ABB Ltd. (ABB) To Unveil Battery Charger In InnoTrans Show

Premium diversified machinery company, ABB Ltd. (NYSE:ABB) declared that it would soon launch a new variation of silicon carbide (SiC) power semiconductor-based battery charger which can be utilized for all types of rail applications. This move is in sync with the company’s ‘Next Level Strategy’ and is likely to drive its commercial growth in the near term.

The battery charger would be launched by ABB Ltd in the approaching (Sep 20-23, 2016) InnoTrans trade show which will be held in Berlin, Germany. This battery charger would expand the company’s existing BORD¬LINE BC series and complement its existing individual supporting converter product family as well.

The fresh product would be compatible with all train battery voltages. Moreover, it would be almost 10 times smaller and relatively lighter than the previous versions of BORD¬LINE BC launched by the company. The device would possess a power density of 1 (kilowatt) kW per liter and per (kilogram) kg.

This launch would reinforce ABB Ltd.’s existing product technology. It would also fortify its ‘Next Level Strategy,’ which has been implemented to derive profitable growth. Share price of the company was $22.25 per share as of Sep 15, 2016. We project the aforesaid announcement to result in stock price movement in the near term.

Stocks to Consider

ABB Ltd. currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks within the industry include EnerSys (NYSE:ENS) , AO Smith Corp. (NYSE:AOS) and Schneider Electric (PA:SCHN) SE (OTC:SBGSY) . All the three companies currently hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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