HOLLAND, Mich. (WOOD) — A Holland manufacturer is getting a new owner.
Hitachi will pay $1.425 billion to buy JR Automation Technologies, which makes automated manufacturing machines. The company is currently owned by Crestview Partners.
JR Automation says it doesn’t expect any of its about 2,000 workers to be laid off or any of its several Holland facilities to close. In fact, it said it’s hiring.
A spokesperson said the company is “excited” about working with Hitachi “to take this next step in the company’s evolution.”
“With our combined capabilities, Hitachi and JR will be a uniquely qualified global leader in next generation smart manufacturing,” the spokesperson wrote in an email to 24 Hour News 8.
The Hitachi deal should be done by the end of the year.
Just last year, JR Automation announced a $4 million expansion that would create 100 jobs.