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Leadership Shakeup at ABB Amid Power Grids Business Overhaul

April 17, 2019 admin abb, Business, digitalization, electrification, finance, hitachi, International, leadership change, Markets, news, power grids, supply chains, T&D, Technology

Credit to Author: Sonal Patel| Date: Wed, 17 Apr 2019 12:15:58 +0000

Only months after ABB announced Hitachi would acquire a majority stake in its flagship power grids business for $11 billion, the company’s board of directors ousted CEO Ulrich Spiesshofer and officially launched a search for a new leader. The Zurich-based technology giant said on April 17 that the board of directors and Spiesshofer “mutually agreed […]

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Hitachi Acquires ABB Power Grids Business in $11 Billion Deal

December 17, 2018 admin abb, Business, Coal, connected plant, Gas, grid, hitachi, hvdc, International, news, Nuclear, power grids, Renewables, T&D, Technology, transmission, uk

Credit to Author: Darrell Proctor| Date: Mon, 17 Dec 2018 19:42:40 +0000

Hitachi Ltd. and ABB on December 17 announced that Hitachi will acquire 80.1% of ABB’s Power Grids unit in an $11 billion deal. Reports of the possible acquisition surfaced December 16, with several media outlets including POWER discussing the agreement, citing sources familiar with the deal who asked not to be identified. Hitachi plans to […]

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