Hitachi ABB Power Grids commences operations

In accordance with the agreement signed on December 17, 2018, Hitachi Ltd. and ABB Ltd announced the completion of all required procedures as planned, and the formation of Hitachi ABB Power Grids Ltd. Hitachi has an 80.1 percent stake in this new joint venture entity (which has business volume of approximately 10 billion USD2) and ABB holds the balance.

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, and the current management team will ensure business continuity.

“Combining our respective technology strengths will bring us new market opportunities and enable us to deliver greater customer value,” said N Venu, Managing Director, Hitachi ABB Power Grids in India. “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.”