Mitsubishi Electric to transfer Nagoya Works to Hitachi Industrial [Yahoo! Finance]
HITACHI LTD ADR (HTHIY)
NASDAQ:AMEX Investor Relations:
hitachi.com/ir-e
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Source: Yahoo! Finance
The assets and other items related to the distribution transformer business, comprising development, design, manufacturing, sales and maintenance, will be transferred to Hitachi Industrial after obtaining approval from the relevant authorities. The companies will integrate their businesses. The transferring will be in stages beginning in October 2024, with completion scheduled for April 1, 2026. The business transfer does not include the transformers manufactured at Mitsubishi Electric's Transmission & Distribution Systems Centre, Ako Factory. Distribution transformers are used to lower the voltage of high-voltage electricity generated by power plants, so that the power can be used to meet the needs of the users. They are installed at relay points of the power grid, such as substations, public facilities, business facilities, and commercial facilities. Through the business transfer, Hitachi Industrial Equipment Systems will expand its product line-up of highly energy-effici
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