ABB Inc. plans to spend $4.6 million over the next three years to expand and retool a new manufacturing process for its transformers in Halifax County.
The investment will create 15 new jobs and saved 140 jobs.
ABB, whose parent company, ABB Ltd., is based in Switzerland, has seen an increase in demand for its liquid-cooled transformers, which are used by large utility, industrial and government users.
“ABB’s distribution transformer investment in South Boston will play a major role in meeting these demands and building out the emerging smart grid while allowing us to be competitive in the global economy,” Thomas Minnich, vice president and general manager of ABB South Boston, said in a statement.
ABB employs more than 400 people in Halifax and 1,000 at locations in Chesterfield and Bland counties.
Gov. Bob McDonnell approved a $200,000 grant from the Governor’s Opportunity Fund to help Halifax with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $600,000 for the project.
The project will be completed in two phases. ABB will not have access to either incentive until the second phase of the investment is approved in 2012.
There are no comments for this entry