Complementary portfolios and technology strengths to ensure continuity, enhance customer value and bring growth opportunities.
Zagreb, 19th August 2020 – 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 will have an 80.1 percent stake in this new joint venture entity (which has annual revenues of approximately 10 billion USD2) and ABB will continue to hold the balance.
Toshikazu Nishino, Executive Vice President of Hitachi, will be the Chairman of the new entity and Claudio Facchin the CEO. The new entity will remain headquartered in Zurich, Switzerland and the current management team will ensure business continuity.
“Hitachi’s 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’s Sustainable Development Goal 7 of ‘affordable, reliable and clean energy’, said Toshikazu Nishino, Chairman of Board, Hitachi ABB Power Grids.
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 the third largest economy in the world.
“Synergies 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”, said Timo Ihamoutila, ABB’s CEO and the Director of Hitachi ABB Power Grids’ Government Board. “Hitachi brings long-term commitment to the new entity and strengthens the existing business partnership between our companies”, he added.
“Combining our respective technology strengths will bring us new market opportunities and enable us to deliver greater customer value”, said Claudio Facchin, CEO, Hitachi ABB Power Grids. “We 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.”
Hitachi ABB Power Grids
Hitachi ABB Power Grids is a global technology leader with a rich common heritage of nearly 250 years, employing 36,000 people in 90 countries. Headquartered in Switzerland, the company provides services to public companies, industry and infrastructure and in growing areas such as sustainable mobility, smart cities, and energy storage and data centers. With proven experience, a global footprint and world-leading references, Hitachi ABB Power Grids balances social, environmental and economic values. Hitachi ABB Power Grids is committed to establishing sustainable development, with the application of innovative and digital technologies, which makes it an ideal partner for stronger, smarter and greener networks.
Hitachi ABB Power Grids operates in the Balkan region under the Balkan Cluster including Albania, Bosnia and Herzegovina, Croatia, Kosovo, Montenegro, Northern Macedonia and Serbia. Nina Dusper Sušić, the former Head of Protection and Control System and Financial Controller, is appointed General Manager of Balkan Cluster.
After she had obtained two master’s degrees at the Sorbonne University, Dusper Sušić began her professional career in the corporate finance sector in France, where, among other activities, she founded and invested in renewable energy funds. She joined ABB Croatia in 2011 as the Financial Controller and over the years has gained experience as Quality and Operations Manager and Business and Sales Manager.
