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ZURICH, Switzerland (AP) - Swiss-Swedish engineering company ABB said Friday its third-quarter net profit almost doubled to $188 million, despite taking a charge in its transformer business.
Profits rose sharply from $98 million in the same three months last year because of improved operational efficiency and buoyant markets, ABB said. Third-quarter sales rose 13 percent to $5.6 billion.
"ABB turned in a very strong third-quarter performance," said ABB President and Chief Executive Fred Kindle. "Operational improvements and our lead position in key markets produced solid order and revenue growth."
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