By Pierre Bertrand

ABB Ltd. said Tuesday that it is investing around $170 million across seven U.S. states as customer demand for electrification and automation products rises.

The Swiss-technology company said it is investing in projects in Wisconsin, Tennessee, Georgia, New Mexico, Michigan, Pennsylvania and South Carolina.

Laws including the U.S. Inflation Reduction Act and the Infrastructure Investment and Jobs Act give ABB confidence to invest in manufacturing capacity, technology innovation and distribution systems, the company said.

The U.S. is ABB's largest market, accounting for 24% of its annual revenue, while 85% of its sales in the U.S. are from locally-produced products, the company said.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

April 04, 2023 08:47 ET (12:47 GMT)

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