HITACHI FORMS STANDALONE POWER BUSINESS IN NORTH AMERICA
TOKYO, Japan and Tarrytown, NY, December 5, 2005 -- Hitachi, Ltd. and its wholly owned subsidiary, Hitachi America, Ltd. today announced the formation of Hitachi Power Systems America, Ltd. The new business unit will focus on the expanding power market in North America and provide Engineering, Procurement and Project Management services associated with Boiler, Turbine and Air Quality Control System (AQCS) requirements for new plants and retrofit applications.
In making the announcement, Shigeharu Mano, president and CEO, Power Systems, Hitachi, Ltd. said “The introduction of Hitachi Power Systems America, Ltd. is part of our evolving strategy to more tightly focus upon the growth in regional markets for improving existing facilities and greenfield installations in the North American Power Market. Hitachi recognizes the US as one of the largest consumers of electricity in the world and is fully committed to supporting the growth of the industry with its outstanding portfolio of products and services. The stable price and ample supply of coal is creating brisk demand for new plant construction and the more stringent environmental standards are stimulating retrofit demand for the type of products that form a part of Hitachi’s core competency.”
Hitachi Power Systems America, Ltd. also will house the Company’s Global Center of Excellence for the Power emissions Market including wet flue gas desulphurization, selective catalytic rejuvenation, catalyst sales and total air quality control systems solutions.
Hitachi Power Systems America, Ltd. is based in Basking Ridge, NJ and has an experienced staff that possesses a broad-based background in the power generation and pollution control marketplaces. The company is headed by Henry Bartoli as president and CEO, who was formerly executive vice president of the environmental businesses of Hitachi America, Ltd., Power and Industrial Division.
Reporting to Mr. Bartoli, members of the executive management team are David Brozek - Sales & Marketing, Mani Seshamani - Commercial Operations, Bill Buffa - Project Operations, Tom Staed - Quality Assurance and Allan Kukoshi - Engineering.
Hitachi Power System America, Ltd., a wholly owned subsidiary of Hitachi, Ltd. and Hitachi America, Ltd., supplies a broad range of products and services for the power generation market including hydroelectric and thermal power plants.
Hitachi America, Ltd. markets and manufactures a broad range of electronics, computer systems and products, and consumer electronics, and provides industrial equipment and services throughout North America. For more information on Hitachi in North America, visit http://www.hitachi.us.
Hitachi, Ltd., (NYSE: HIT), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 347,000 employees worldwide. Fiscal 2004 (ended March 31, 2005) consolidated sales totaled 9,027.0 billion yen ($84.4 billion). The company offers a wide range of systems, products and services in market sectors including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services. For more information on Hitachi, please visit the company’s Website at http://www.hitachi.com.
Gerard F. Corbett
Hitachi America, Ltd.
Hitachi America, Ltd.