11/19/2023 0 Comments Abb power grids division us![]() Hitachi in its statement said it wants to build “an energy platform to realize more efficient use of electricity throughout society, Hitachi aims at expanding its Social Innovation Business not only in the Power and Energy area, but also in areas such as mobility (railways and electric vehicles etc.), life (smart-city and buildings etc.) and industry (manufacturing facilities and plants etc.), and at providing a wide range of customers with innovative energy solutions.” Hitachi will expand provision of the platform to, and collaborative creation using it with ABB’s broad range of customers to promote more efficient use of electricity throughout society and empower and grow the Social Innovation Business.” In addition, Hitachi aims to build an energy platform that connects various fields such as mobility, life and industry. ![]() Hitachi in a press release Monday said the acquisition will enable it to “offer innovative energy solutions globally by combining ABB’s world-class grids offering including advanced digital grid solutions with Hitachi’s digital technology. A divestment would likely lead the company to focus more on automation and robotics, and also could satisfy the demands of Cevian Capital AB, which became one of ABB’s largest shareholders more than three years ago. Cevian, today the company’s second-largest shareholder, has said ABB’s operations were too complex and has argued the company’s stock price would be helped by ABB spinning off some of its units. It accounts for about a quarter of ABB’s current business. Hitachi has entered into a purchase option to acquire the remaining 19.9% stake in Power Grids and make the business a wholly-owned subsidiary.ĪBB’s Power Grids unit makes power transformers, long-distance transmission systems for power, and also designs energy storage units. ![]() Hitachi plans to close the purchase in the first half of 2020, making Power Grids a consolidated subsidiary. Reports of the possible acquisition surfaced December 16, with several media outlets including POWER discussing the agreement, citing sources familiar with the deal who asked not to be identified. and ABB on December 17 announced that Hitachi will acquire 80.1% of ABB’s Power Grids unit in an $11 billion deal.
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