“Hitachi brings long-term commitment to the new entity and strengthens the existing business partnership between our companies,” he added. “Synergies and access to new and growing markets provided by Hitachi will help take Power Grids to the next stage of its development, further strengthening its leading position,” said Timo Ihamuotila, CFO of ABB and Director of the Board of Hitachi ABB Power Grids. The alliance with Hitachi will facilitate expansion opportunities for the new entity in areas such as mobility, smart cities, industry, energy storage and data centers, besides providing financial muscle to support ambitious projects and enabling access to Japan, the third largest economy in the world. The joint venture brings together two highly respected companies to create a new global power leader. Intelligent solutions for a more dynamic grid will also contribute to the UN’s Sustainable Development Goal 7 of ‘affordable, reliable and clean energy’,” said Toshikazu Nishino. “Hitachi’s leading digital technologies merged with world-class power grid solutions will help us to play an active role in the global transformation and decarbonization of energy systems for a sustainable energy future. The new entity is headquartered in Zurich, Switzerland, and the current management team will ensure business continuity. Toshikazu Nishino, Executive Vice President of Hitachi, is the Chairman of the new entity and Claudio Facchin the CEO. Hitachi has an 80.1 percent stake in this new joint venture entity (which has business volume of approximately 10 billion USD) and ABB holds the balance. and ABB Ltd announced the completion of all required procedures as planned, and the formation of Hitachi ABB Power Grids Ltd. TOKYO: In accordance with the agreement signed on December 17, 2018, Hitachi Ltd. ![]() ![]() Complementary portfolios and technology strengths to ensure continuity, enhance customer value and bring growth opportunities.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |