Hitachi Announces Conclusion of Absorption-type Split Agreement to Strengthen the Business of Power Receiving and Transforming Facilities for Industrial Area by Company Split
Tokyo, Japan, February 6, 2019 --- Hitachi, Ltd. (TSE:6501, “Hitachi”) and Hitachi Industrial Equipment Systems Co., Ltd. (“Hitachi Industrial Equipment Systems”) announced on November 12, 2018 that, with a view to strengthening engineering and sales capabilities in the power receiving and transforming facilities business for the industrial area and promoting digital technology-based high value-added businesses, the sales and engineering sectors for power receiving and transforming facilities for the industrial area that handle special high voltages exceeding 33kV, products for which Hitachi has been responsible, will be taken over on April 1, 2019 by Hitachi Industrial Equipment Systems, a wholly owned subsidiary of Hitachi, through a company spin-off (the “Company Split”).
