Unplanned downtime costs $103k, $125k per hour: ABB

A new survey from ABB has revealed the close tie between uptime and reliability, confirming its findings that unplanned downtime can cost some industrial sites $103,000 per hour in the U.S. and $125,000 globally. According to the new “Value of Reliability” survey, 69% of industrial businesses experience unplanned outages at least once a month, a number found both in the…

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Tata Steel, ABB team up on sustainable steel production

Photo: ABB India-based steelmaker Tata Steel has signed a memorandum of understanding (MoU) with ABB to co-create innovative models and technologies to help reduce the carbon footprint of steel production. The two companies will focus on system-level assessments of Tata Steel’s manufacturing plants and production facilities for evaluation and co-development of short and long-term options for energy efficiency, decarbonization and…

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