Source： HITACHI ABB power grid

Complementary product portfolio and technical strength ensure the continuity of business while boosting customer value and bring up the new opportunity for development.

On 1^st July, HITACHI and ABB jointly announced the establishment of Hitachi ABB Power Grid Co. LTD, then signed the agreement on17^th Dec,2018 and completed the due process as per planed. 80.1percentage of market share will be held by HITACHI, while ABB take the rest.

HITACHI executive vice-president Toshikazu Nishino will take up the post of chairman of the board, while Claudio Facchin will serve as chief executive officer. The company headquaters is still located at Zurich, Switzerland and the current management team will ensure business continuity.

Toshikazu Nishino says,“ the combination ofHITACHI’ leading digital technology and ABB world-class resolving ability forpower grid, shall avail us to boost adjustment of global energy system and decarbonization,and build the sustainable future. Meanwhile, we shall provide the intelligent solutions to ever-changing power grid, and contribute to the achievement of affordable, reliable and sustainable clean energy proposed in the sustainable development of the United Nation.”

Joint ventures established by two well-respected companies, aim to cultivate new leaders in the global electric industry. The amalgamation will further enlarge business opportunities in many fields like transportation, smart city, industry, energy reserving and datacenter, in addition obtain finance support, venturing Japan, the world third largest economy.