ABB to Close Hungarian Plant, Cut 1,000 Jobs
February 11 2020 - 10:17AM
Dow Jones News
By Kim Richters
ABB Ltd. said Tuesday that it plans to close its factory in Ozd,
Hungary, which will lead to around 1,000 job cuts.
The Swiss engineering company said it decided to shut down the
plant due to falling customer demand, which "will continue to
decline to the point that it is not viable to keep the plant
open."
The plant, part of GE Industrial Solutions when ABB acquired the
company in 2018, will close by the end of the year, ABB said. It
currently manufactures products such as miniature circuit
breakers.
ABB's other operations in Hungary won't be impacted, it
said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
February 11, 2020 10:02 ET (15:02 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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