Hitachi Energy to invest additional $1.5 billion to ramp up global transformer production by 2027 [Financial Post (Toronto, Ontario, Canada)]
HITACHI LTD ADR (HTHIY)
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hitachi.com/ir-e
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Source: Financial Post
Capacity expansion will increase speed to market to meet accelerating global demand, address long-term customer investments and create over 4,000 jobs — Investments span across Europe, the Americas, and Asia leveraging existing global footprint — Around $180 million in a new state-of-the-art transformer factory in Finland, a key location for clean technology development for renewables and industrial electrification Article content Zurich, April 23, 2024 (GLOBE NEWSWIRE) — Hitachi Energy today revealed investments of over $1.5 billion to ramp up its global transformer manufacturing capacity to keep pace with the growing demand and support the long-term plans and electrification efforts. Article content The investments will gradually expand the company's global transformer capacity by 2027 and are in addition to the $3 billion already announced to progress on the electrification of the energy system driven by the energy transition. “The demand for transformers and electrical
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