Hitachi Energy announces over $100 million in modernization and upgrade of power transformer factory and facilities in Quebec, Canada [Yahoo! Finance]
HITACHI LTD ADR (HTHIY)
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Source: Yahoo! Finance
demand ---- Establishment of a state-of-the-art testing facility for large power transformers and a high-voltage direct current (HVDC) engineering and design center which will create around 70 jobs, to enable capacity expansion Hitachi Energy, Varennes Montreal factory Montreal, Canada / Zurich, Switzerland, April 29, 2024 (GLOBE NEWSWIRE) -- Hitachi Energy today announced an ambitious upgrade and modernization of its power transformer factory in Varennes, and other facilities in Montreal, to address fast-growing customer demand for sustainable energy in North America. More than $100 million (approx. $140 million CAD) in projects around Montreal will include funding from the Government of Quebec through Investissement Quebec. This investment is in line with Hitachi Energy's recent announcement to ramp up its global transformer manufacturing capacity to support the long-term plans and electrification efforts. The Varennes facility is Hitachi Energy's premier manufacturing locat
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