However, there are many risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release. These are generally identifiable by statements containing words such as “expects”, “estimates”, or similar expressions. This press release includes forward-looking information and statements which are based on current expectations, estimates and projections about the factors that may affect our future performance. For more information on Hitachi, please visit the company's website at Important notice about forward-looking information The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Hitachi 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.
Hitachi abb power grids website software#
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. ABB has reached an agreement to divest to Hitachi, Ltd.
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