Hitachi ABB Power Grids commences operations
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Toshikazu Nishino, Executive Vice President of Hitachi, is the Chairman of the new entity and Claudio Facchin the CEO. The new entity is headquartered in Zurich, Switzerland. The current management team will ensure business continuity.
“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 decarbonisation of energy systems for a sustainable energy future. 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 Nishino.
The joint venture brings together two highly respected companies to create a new global power leader. The alliance with Hitachi will facilitate expansion opportunities for the new entity in areas such as mobility, smart cities, industry, energy storage and data centres, besides providing financial muscle to support ambitious projects and enabling access to Japan, the third-largest economy in the world.
“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. “Hitachi brings long-term commitment to the new entity and strengthens the existing business partnership between our companies,” he added.
“Combining our respective technology strengths will bring us new market opportunities and enable us to deliver greater customer value,” said Facchin. “We remain committed to powering good for a sustainable energy future, with pioneering and digital technologies, as the partner of choice for enabling a stronger, smarter and greener grid.”
Notes to the Editor
[1] Link to Hitachi announcement in December 2018: https://www.hitachi.com/New/cnews/month/2018/12/f_181217.pdf
[2] Based on reported annual revenues for fiscal years 2017–2019 (ABB’s Power Grids Division)
Ends
Notes to the Editor
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About Hitachi ABB Power Grids
Hitachi ABB Power Grids is a global technology leader with a combined heritage of almost 250 years, employing around 36 000 people in 90 countries. Headquartered in Switzerland, the business serves utility, industry and infrastructure customers across the value chain, and emerging areas like sustainable mobility, smart cities, energy storage and data centres. With a proven track record, global footprint and unparalleled installed base, Hitachi ABB Power Grids balances social, environmental and economic values. It is committed to powering good for a sustainable energy future, with pioneering and digital technologies, as the partner of choice for enabling a stronger, smarter and greener grid. https://www.hitachiabb-powergrids.com.
Hitachi ABB Power Grids Contact
Rebecca Bleasdale
Head of External Communications & Media Relations
Phone: +41 786432613
Email: rebecca [dot] bleasdale [at] hitachi-powergrids [dot] com
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NGAGE Public Relations
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