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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ABB Ltd | NYSE:ABB | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 37.13 | 0 | 01:00:00 |
From May 2019 to May 2024
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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