ABB: COVID-19 Update
ABB Ltd (ABB)
Last abb ltd earnings: 7/25 12:46 am
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Source: Business Wire
ZURICH--(BUSINESS WIRE)--ABB is constantly monitoring the pandemic situation around COVID-19 (novel coronavirus). The health and safety of its employees, customers and partners remains the company’s number one priority and we are working hard to assess and mitigate any risks.Guidance issued on February 5, 2020, did not include impacts due to the coronavirus, the effects of which were mainly limited to China at that time. We have subsequently experienced a decline in trading conditions due to the outbreak, further impacted by a weakening oil price.The situation in China has stabilized following extensive government-led efforts in February and operations at ABB’s three main production hubs of Shanghai, Beijing and Xiamen have largely returned to normal. While weakened customer demand in China, our second largest market, will also impact the first quarter results, our China business has been improving recently. At the same time, COVID-19 has spread rapidly to the western hemisphere i
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