Swiss-Swedish robotics and automation technology giant ABB has announced plans to shut down its circuit breaker plant in Ózd, in northeast Hungary, laying off nearly 1,000 people, citing a fall in demand.
ABB Hungary
Photo: ABB
ABB acquired the plant in 2018 from GE Industrial Solutions.
ABB said output at the plant has fallen to levels which will soon make it unprofitable. Some of the plant’s production lines will be relocated to ABB’s other bases in the region, it added.
The company added that the decision to close the plant will not affect the company’s other investments in Hungary and that it will help workers at the plant find new jobs or support their retraining.
The Innovation and Technology Ministry said that its minister, László Palkovics, will initiate talks with local leaders with a view to ensuring that ABB’s employees could find work as quickly as possible.
Palkovics will pay a visit to Ózd on Friday to discuss the situation with the MP representing the region, local council leaders and ABB’s suppliers, the ministry told reporters.
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