SWISS engineering giant ABB is looking for more acquisitions after the successful takeover of Brisbane-based Mincom in 2011.
ABB Australia managing director Axel Kuhr said Brisbane was becoming an increasingly important base for the company, with more than 150 software developers working on programs used in power stations, transport systems and data centres around the world. 
"We want to increase our footprint here," said Mr Kuhr. "While our main way to grow is organically, we are starting to look at acquisitions. We are scanning the situation in Australia for opportunities in new areas." ABB, which was founded in 1883, acquired Mincom in 2011 for an undisclosed sum after the year earlier taking over another software company, Ventyx, for more than $1 billion. The acquisitions beefed up ABB's capacity to provide the information technology and software to drive its transformers, automation systems and electrical grids.
Mr Kuhr declined to specify in which sectors ABB was looking for further acquisitions but said software services, renewable energy, rail, micro grids and robotics were showing promise.
"We have been facing quite tough times in the last three years but there are pockets of industries that are developing," Mr Kuhr said.
He said further investment in such areas would help drive innovation and boost Australia's diminishing manufacturing sector.
"Manufacturing now makes up only 7 per cent of GDP and the challenge is to stay competitive," Mr Kuhr said. "One way this can be done is through robotics. People may say it is going to take their jobs but my view is, if you get the mix right, people keep their jobs." He said while the current focus by the Federal Government on innovation is laudable, he had not seen a lot of concrete action to drive industrial growth and encourage investment. The Government needed to provide more certainty in policies such as renewable energy and making the industrial relations system more flexible.
"Politicians go overseas and look at innovation there but we have a lot of hidden gems in our backyard," he said. "For example, the software developed in our Brisbane office is used globally. It's made in Fortitude Valley, not Silicon Valley."ABB employs about 500 people in Queensland, including 350 in its Valley office. Nationwide the Zurich-based company employs 1600.