Leading power and automation technology group ABB has been named by Fortune magazine as the most admired company in its sector.

The company moved up from sixth place in last year’s survey in the Industrial Machinery category.

ABB ranked first within its sector on five (global competiveness, quality of products/services, quality of management, people management and innovation) of the nine attributes as well as overall, stated the Fortune in its report.

The Fortune's annual rankings are derived from a survey of 15,000 senior executives and industry analysts who rate companies on nine attributes ranging from innovativeness to the ability to attract and retain talent. The international Fortune survey covers 25 industry sectors.

On the ranking, ABB CEO Ulrich Spiesshofer, said: “We are pleased to be recognized by our peers and Fortune magazine as the global leader and the place to work in our industry.”

“We will continue to create value for our customers, employees and shareholders by realizing the opportunities in our key strategic focus areas of profitable growth, business-led collaboration and relentless execution,” he added.

ABB Group of companies operates in around 100 countries and employs about 150,000 people.-TradeArabia News Service