ABB Expects Offshore Wind Projects to Advance

According to the Financial Times Deutschland, Swiss engineering compay ABB is expecting its offshore wind projects to advance as planned, without delays.

Peter Terwiesch, head of ABB in Germany, said that profit margins for the projects are in a “normal development corridor.”

Contrary to Siemens whose power-transmission unit reported a loss of EUR 169 million in the second quarter, ABB announced EBIT USD 1.05 billion.

[mappress]
Offshore Nieuws Staff, April 30, 2012; Image: ABB