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News Details

ABB to expand its traction transformer business: Reports

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08/11/2017 10:01
Swiss engineering group ABB has said that it will expand its traction transformer business in India to drive competitiveness.

India's expansion is aligned with growth in railways and metro network, the company said in a statement.

As per reports, ABB has announced a strategic realignment of its global transformer manufacturing, engineering and service footprint to enhance competitiveness in a dynamic market environment marked by increasing competition and consolidation in the rail industry.

Commenting on the issue, Sanjeev Sharma, Managing Director, ABB India said, "With our traction transformers made in Vadodara we have provided best in class technology for the modernisation of the Indian transportation sector."

"Our 1000th traction transformer went to the Lucknow metro project while the 800 new electric freight locomotives for India Railways will also be fitted with ABB s reliable and compact traction transformers supporting modernisation and economic development," he added.

Meanwhile, shares of the company were trading at Rs 1338 apiece, up 0.28 per cent from the previous close at 10:07 hours on BSE.