{"id":129941,"date":"2020-07-03T11:04:19","date_gmt":"2020-07-03T01:04:19","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=129941"},"modified":"2020-07-03T11:04:19","modified_gmt":"2020-07-03T01:04:19","slug":"hitachi-abb-power-grids-commences-operations","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/hitachi-abb-power-grids-commences-operations\/","title":{"rendered":"Hitachi ABB power grids commences operations"},"content":{"rendered":"<p>DNA<br \/>\nISLAMABAD<br \/>\nIn accordance with the agreement signed on December 17, 2018, Hitachi Ltd. and ABB Ltd today announced the completion of all required procedures as planned, and the formation of Hitachi ABB Power Grids Ltd.<br \/>\nHitachi 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.<br \/>\nToshikazu 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.<br \/>\n\u201cHitachi\u2019s leading digital technologies merged with world-class power grid solutions will help us to play an active role in the global transformation and decarbonization of energy systems for a sustainable energy future. Intelligent solutions for a more dynamic grid will also contribute to the UN\u2019s Sustainable Development Goal 7 of \u2018affordable, reliable and clean energy\u2019,\u201d said Toshikazu Nishino. The joint venture brings together two highly respected companies to create a new global power leader. The alliance with Hitachi will facilitate expansion opportunities for the new entity in areas such as mobility, smart cities, industry, energy storage and data centers, besides providing financial muscle to support ambitious projects and enabling access to Japan, the third largest economy in the world.<br \/>\n\u201cSynergies and access to new and growing markets provided by Hitachi will help take Power Grids to the next stage of its development, further strengthening its leading position,\u201d said TimoIhamuotila, CFO of ABB and Director of the Board of Hitachi ABB Power Grids.<br \/>\n \u201cHitachi brings long-term commitment to the new entity and strengthens the existing business partnership between our companies,\u201d he added.<br \/>\n\u201cCombining our respective technology strengths will bring us new market opportunities and enable us to deliver greater customer value,\u201d said Claudio Facchin, CEO, Hitachi ABB Power Grids. \u201cWe 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.\u201d = DNA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DNA ISLAMABAD In accordance with the agreement signed on December 17, 2018, Hitachi Ltd. and ABB Ltd today 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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-129941","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hitachi ABB power grids commences operations<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/hitachi-abb-power-grids-commences-operations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hitachi ABB power grids commences operations\" \/>\n<meta property=\"og:description\" content=\"DNA ISLAMABAD In accordance with the agreement signed on December 17, 2018, Hitachi Ltd. and ABB Ltd today announced the completion of all required procedures as planned, and the formation of Hitachi ABB Power Grids Ltd. 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