ABB bought by Hitachi, impact on Jefferson City site unclear
JEFFERSON CITY - This week Hitachi announced a takeover of ABB, worth a purchase price of $11 billion.
It's unclear what impact the announcement will have on ABB's Jefferson City plant. ABB is the sixth-largest employer in the city with 700-plus employees.
Jefferson City Chamber of Commerce President Randy Allen said he was surprised by the decision, but didn't have any further comment at this time.
In a press release, ABB said the takeover would save the company $500 million.
Zachary Lauf, of Lauf Equipment Sales, works right across the street from ABB. He's hopeful the factory stays in the community, like it has for 25 years.
"We hope they choose to stay around here, they've been a good neighbor for us, so we like having them around they've been really good to be in the area. So yeah we hope they stick around and continue to grow around here," Lauf said.
Hitachi and ABB expect the deal to close in the first half of 2020.