ABB Power Products Unit Falling Short of Targeted Growth Rate

ABB Ltd. (ABBN) the world’s biggest maker of power grids, said the compound annual growth rate of its power-product business may fall short of a target range this year.

Sale growth for the unit was 2 percent for the 18 months ending June 30, CFO Michel Demare tells investors. The Swiss company is targeting a range of 5 percent to 7 percent through 2015.

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net