9/19/2023 0 Comments Abb power gridsHitachi drives Social Innovation Business, creating a sustainable society with data and technology. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. This will further strengthen our balance sheet and give us additional flexibility in our capital allocation decisions,” said Timo Ihamuotila, Chief Financial Officer of ABB.ĪBB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. “We are delighted to have agreed on the final part of the transaction earlier than expected and on favorable terms. The transaction is subject to regulatory approvals and closing is expected to happen in the fourth quarter 2022. ABB expects net positive cash inflows of approximately $1.425 billion upon closing of the sale. ABB does not expect to record any significant gain or loss as a result of the sale. The companies have agreed to settle remaining obligations relating to the original transaction, and ABB will continue to provide transition services to Hitachi Energy for them to fully separate from ABB’s systems. The call option’s exercise value is $1.679 billion. Hitachi has exercised its call option that was agreed between the parties in December 2018. (Hitachi) its remaining 19.9 percent equity stake in the Hitachi Energy joint venture that was formed from ABB’s Power Grids business in 2020, with Hitachi holding a stake of 80.1 percent. Please visit the Center at to experience it for yourself.ZURICH-( BUSINESS WIRE)-ABB has reached an agreement to divest to Hitachi, Ltd. With the inclusion of an engineering operator workstation, customers will be able to interact with the latest analytics, operations, and asset management software applications that simulate real-life operations. It also highlights customer success stories to help visitors better understand how Hitachi ABB Power Grids is prepared to solve customers’ most complex energy challenges. “I encourage everyone to tour the center virtually and register for future visits or face-to-face collaboration when it’s safe to do so.”īeyond exploring the company’s product and solutions portfolio, the Center also offers deep dives into the rich history of innovation of both ABB and Hitachi as well as the company’s manufacturing footprint in North America (including virtual tours of some of the factories). I am very proud to invite everyone to experience our new Center as a testament to our commitment to powering good for a sustainable energy future, with pioneering and digital technologies,” said Anthony Allard, Head of North America, Hitachi ABB Power Grids. This new Customer Experience Center provides us with a perfect opportunity to better demonstrate the value of our products and solutions to our customers in a whole new digital way. “The COVID-19 pandemic has changed the way we operate and engage with customers. The Center offers 3D, interactive demonstrations across the full breadth of the company’s products, solutions, and services, including power and distribution transformers, high voltage products and services, power automation and distribution, and grid integration systems and solutions to help our customers make their operations stronger, smarter and more sustainable. The Center will also support both virtual and in-person guided tours and collaboration sessions for customers, partners, and select guests. Located in a state-of-the-art facility on the Centennial Campus of North Carolina State University, the Center gives Hitachi ABB Power Grids a powerful new way to collaborate with customers, partners, and other stakeholders on strategies to facilitate the shift toward electricity as the backbone of the entire energy system.īuilt using an advanced digital platform, the Center provides visitors, both in-person and virtual, with a 3D, interactive immersion in Hitachi ABB Power Grids’ portfolio of technologies and solutions for power utilities, renewables, data centers, transportation, and other asset-intensive industries. Hitachi ABB Power Grids announced the inauguration of its new Customer Experience Center (“the Center”) at the company’s North American headquarters in Raleigh, N.C.
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