ABB Totalflow has announced that the city of Bartlesville will provide up to $300,000 in equity for loans for a planned expansion.
The expansion, which is expected to cost $2.6 million, will add 20,000 SF to the company’s current 68,000 SF facility in the Bartlesville Industrial Park. The current ABB location, 7051 Industrial Blvd., is leased from the Bartlesville Development Authority.
ABB employs 150 in Bartlesville, including contract workers, and plans to hire an additional 100 people in the next five years.
Funding for expansion will be provided by Arvest Bank and First Bartlesville Bank.
Switzerland-based ABB Inc. reported 2005 net income of $735 million compared to a loss of $35 million in 2004. The company is a provider of power and automation technologies and employs about 107,000 people in 100 countries.