Hitachi acquires remaining shares from ABB Ltd

Hitachi Energy Ltd today announced that Hitachi, Ltd., has signed a share transfer agreement for the remaining 19.9 per cent shares from ABB Ltd., pursuant to the acquisition agreement signed on December 17, 2018. 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 company.
The company 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, digitalisation 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.

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