ZURICH (Reuters) - ABB is spending $280 million on a new robotics factory in Sweden, the Swiss engineering and technology group said on Wednesday, to ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSZURICH - ABB is spending $280 million on a new robotics factory in Sweden, the Swiss engineering and technology group said on Wednesday, to meet growing demand triggered by customers moving production from Asia closer to their home markets.
The new facility, due to open in 2026, will have 50% more production capacity than its old site and employ 1,300 people, ABB said. ABB said the European robotics and automation market is expected to grow by 7% per year between 2023 and the end of 2027, driven by companies bringing back production from Asia.
Manufacturers are responding to greater government incentives, with the European Union earlier this year relaxing state aid rules to allow the bloc's national governments to match subsidies offered under President Joe Biden's $369 billion Inflation Reduction Act in the United States.
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