ABB shuts plants in Egypt
Swedish engineering giant closes factory due to growing unrest
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.