ABB shuts plants in Egypt

Swedish engineering giant closes factory due to growing unrest

Protesters in Cairo. Picture: Getty Images.
Protesters in Cairo. Picture: Getty Images.

Swiss Swedish engineering giant ABB said on Tuesday that it had shut factories in Egypt on a temporary basis due to the unrest in the country.

ABB employs about 1,600 people in the country, where it has an annual turnover of about $300million. It is the world’s largest manufacturer of power-transmission equipment.

“The factories will remain closed, and we are monitoring the situation by the hour,” said Thomas Schmidt, a spokesman for Zurich-based ABB. “We have recorded no damage to our facilities and none of our employees have been harmed.

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