Hitachi has completed the merger of its joint venture (JV) power business unit with ABB Power Grids, known as Power India. The merger follows the completion of the global merger of the energy business vertical of the Swiss major with the Japanese conglomerate. The merged entity is known as Hitachi ABB Power Grids globally. While Hitachi owns 80.1% stake in the new joint venture which has a combined business of USD 10 billion and ABB holds the balance stake.
Following this, Hitachi will directly be responsible for the management and operation of Power India or ABB Power Products and Systems India which comprises part of Hitachi ABB Power Grids, and is listed on the BSE and NSE (as Power India).
ABB Power Products and Systems India (APPSIL) is the Indian arm of ABB Power Grids - a global leader in power technologies, providing the most comprehensive grid portfolio across the entire value chain.
