ABB, Hitachi to set up joint venture in Japan
By Reuters
Dec 16, 2014 02:23 AM EST
Regions
Swiss engineering group ABB (ABBN.VX) said on Tuesday it had agreed to set up a joint venture with Hitachi (6501.T) to market high-voltage direct current (HVDC) power transmission equipment in Japan.
Hitachi and ABB will take equity interests of 51 percent and 49 percent respectively in the joint venture, the Swiss company said in a statement.
The joint venture is expected to get underway in the coming months, subject to the necessary approvals and statutory procedures.
© 2024 VCPOST, All rights reserved. Do not reproduce without permission.
Join the Conversation