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ABB Invests $23 Million In New Bulgarian Factory, Adds 600 Jobs

Date : 12/06/2012 @ 10:01PM
Source : Dow Jones News
Stock : Abb Ltd (ABB)
Quote : 22.97  0.2 (0.88%) @ 5:30AM
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ABB Invests $23 Million In New Bulgarian Factory, Adds 600 Jobs

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ZURICH--ABB Ltd. (ABBN.VX) said Thursday it plans to invest about $23 million to build its second greenfield factory in Bulgaria to meet future demand in Europe.

MAIN FACTS:

-The factory in the Plovdiv area will act as an internal ABB supplier of low voltage control and medium voltage products. When fully operational, it will employ around 600 people.

-For Peter Simon, Country Manager of ABB in Bulgaria, the investment underlines the value of Bulgaria as a base for efficient manufacturing: "We are pleased to continue the development of ABB in Bulgaria and to bring international expertise and new jobs to the region."

-The production unit will be built on a total area of about 15,000 square meters and it is scheduled to be operational by the end of 2013. This is the second major investment by ABB in the Plovdiv region. The first greenfield factory was built in 2009 and now employs over 700 people.

-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47; zurichdjnews@dowjones.com

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