Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Energy and Industry)
Filter PR by
  
Hitachi Energy Is Ahead Of Schedule With Its Purpose-driven Growth Plan
 
Hitachi Energy Is Ahead Of Schedule With Its Purpose-driven Growth Plan

Hitachi announced acquisition of remaining shares from ABB ahead of schedule further supporting Hitachi Energy's 2030 Plan

 

Dubai: October 01, 2022 - Hitachi Energy Ltd ('Hitachi Energy') today announced that Hitachi, Ltd. (TSE: 6501, 'Hitachi') has signed a share transfer agreement for the remaining 19.9% shares from ABB Ltd (SIX: ABBBN, 'ABB'), pursuant to the acquisition agreement signed on December 17, 2018(1). This is in line with the plan and ahead of schedule, and the transfer of shares will be completed by end of December 2022, subject to regulatory approvals. 

“We are pleased with the progress of Hitachi Energy, and we look forward to supporting the Hitachi Energy 2030 Plan, as announced during Hitachi Investor Day 2022,” said Yoshihiko Kawamura, Executive Vice President and Executive Officer, CFO of Hitachi, Ltd., and the Chair of the Board of Hitachi Energy.

Hitachi Energy is making good progress with its portfolio offering that is strengthening, expanding, and evolving the power system supporting customers and partners across the entire lifecycle to enable a sustainable, flexible and secure energy system. The company is also well-positioned to accelerate the growing electrification of transportation, industry and building sectors with its long-term Hitachi Energy 2030 purpose-driven growth plan.

'Electricity will be the backbone of the entire energy system and the urgency of the energy transition requires us to collaborate and innovate across stakeholders and sectors, and the good news is that we can act now. Hitachi and Hitachi Energy have been generating synergies by combining digital and energy technologies that are contributing to the global energy transition. We will accelerate the drive for synergies, digitalization and service and we will continue to offer deployment of both IT and operational technology (OT) at scale and with speed, as we are advancing a sustainable energy future for all,' said Claudio Facchin, Senior Vice President and Executive Officer of Hitachi and CEO of Hitachi Energy. 

The good progress of the company is underpinned by the commitment from Hitachi, a diverse and passionate global team of 40,000 Hitachi Energy employees, and the tailwind from the development and deployment of innovative technology for a carbon-neutral vision where electricity will become the backbone of the entire energy system. 

Based on the combined knowledge of close to 250 years between Hitachi Energy and Hitachi, the business has also leveraged its energy platform in combination with digital solutions from Hitachi, and launched solutions like Lumada Asset Performance Management and, most recently, Lumada Inspection Insights.

Strengthening the power system with High Voltage Direct Current (HVDC) technology for bulk renewable integration and interconnections between countries and continents, as well as the launch of an eco-efficient EconiQ™ portfolio for high-voltage products, transformers, and consulting, all initiatives that have contributed to the purpose-driven growth: advancing a sustainable energy future for all. In addition, we are expanding with digital solutions and services that are enabling carbon reductions. And we are evolving the power system through partnerships and new business models, as an integral part of the Hitachi Energy 2030 Plan.

The solid commitment from Hitachi to the announced acquisition of the remaining shares of Hitachi Energy ahead of plan will help accelerating synergies and implementation of the 2030 Plan enabling our agile and committed team to support customers and partners addressing the global challenge of the energy transition. 


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 5461 times
PR Category : Energy and Industry
Posted on : Saturday, October 1, 2022  2:49:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Yellow Door Energy Closes $400 Million Equity Raise To Devel...
Next Story : ISO Annual Meeting 2022 In Abu Dhabi Ends With Call To Harmo...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Pandora Launch a New Limited-Edition Charm in Support of UNICEF Giving Young Voices the Ch... [10476-Views]
Ogilvy Celebrates a giant performance at this year's LIA's – Including awards for Global ... [8126-Views]
The Face Shop Introduces Vegan Skincare in the UAE [4264-Views]
MG International Fragrance Company Reinforces Presence in the Growing Middle East Region [4202-Views]
Opening Day of 22nd Edition of Cityscape Sees Numerous New Developments Showcased inside D... [3870-Views]
Dubai Islamic Bank Successfully Prices USD 750 Million Inaugural Sustainable Sukuk [3489-Views]
Jaeger-Lecoultre Participates in the 30th Edition of Jewellery Arabia Bahrain [3321-Views]
Dubai's Real Estate Market Continues to Ride High on Strong Investor Confidence [3272-Views]
Sita Strengthens its Partnership with Geneva Airport, helping Transform the Passenger Expe... [2903-Views]
Large Audience Attend Taha Hussein Days at Mohammed bin Rashid Library [2899-Views]
Dubai's 3 Day Super Sale Starts Friday with Deals of up to 90% off across the City [2870-Views]
5th Combined Gulf Cancer Conference to See Stellar Lineup of Policymakers, Scientists, Can... [2829-Views]
Burj Khalifa by Emaar to Host a Cutting-Edge Laser Light Extravaganza and Phenomenal Firew... [2821-Views]
Dubai Customs Launches Awareness Campaign on Digital Services for Passengers [2763-Views]
Dubai Future Foundation Announces Winners of the Smart Toys Competition 2.0 [2755-Views]
Samsung MENA Launches the First-ever Roblox ‘Space Cup' Football Tournament [2743-Views]
Michelin Star Chef and UK Consul General Welcomed for Jumeirah College Bake Off [2722-Views]
Former Man City Star Micah Richards on Why He is a Big F1 Fan and How the Sport can help D... [2628-Views]
DLD Enriches its Participation in Cityscape 2022 with Innovative and Sustainable Real Esta... [2608-Views]
Global Village Announces Spectacular Celebrations to mark the 51st UAE National Day [2567-Views]
Dubai Health Authority Receives a High-level Delegation from the National Healthcare Group... [2550-Views]
Five Things to Know About how they're Delivering more Benefits for Travellers [2472-Views]
Waterfront Market unveils Dubai Consumers Shopping Preferences [2452-Views]
This Week, ‘Down To Earth' Celebrating all things Green returns to Jameel Arts Centre, Plu... [2448-Views]
Reel Cinemas will make UAE Cinema History by Giving an Incredible 51% Discount on All Movi... [2444-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories