Hitachi Construction Machinery said that it has revised its earnings outlook for the fiscal year of March 2016. Hitachi blamed foreign exchange losses for its revised forecasts.
Breaking News
Japan's Hitachi (6501.T) will pay Finmeccanica (SIFI.MI) 9.5 euros for each share in the Italian firm's rail business Ansaldo STS after a dividend distribution adjustment to a previously agreed deal, the companies said in a joint statement on Friday.
Italian industrial conglomerate Finmeccanica (SIFI.MI) is set to announce the sale of its shares in rail and signaling units AnsaldoBreda and Ansaldo STS (STS.MI) to Japan's Hitachi (6501.T) as soon as Tuesday, a source close to the matter said on Monday.
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.
Italian industrial conglomerate Finmeccanica (SIFI.MI) said on Tuesday Japan's Hitachi (6501.T) had submitted an offer to buy rail assets it has put on the block as part of plans to cut debt.
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