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Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
March 7, 2012
Tokyo, March 7, 2012 --- Specialized International Services O.P.C. ("SIS") and Hitachi Plant Technologies, Ltd. ("Hitachi Plant Technologies"), wholly owned subsidiary to Hitachi, Ltd., (NYSE: HIT / TSE: 6501, "Hitachi") reached an agreement to establish a joint venture company focusing on providing construction and engineering business in the social and industrial infrastructure sectors.
The signing ceremony was held on March 6, 2012 in Doha, Qatar.
The joint company will be registered in March 2012. SIS holds 51％ of its share and Hitachi Plant Technologies holds 49％. The registered name of the company will be "Hitachi Plant Qatar L.L.C" and H.H. Sheikh Abdulla Bin Khalifa Bin Hamad Al Thani is appointed as the Chairman to this new company and Hitoshi Ohkawara of Hitachi Plant Technologies will be the CEO.
As being selected as the host nation of FIFA World Cup in 2022, significant numbers of World Cup related projects, such as football stadiums, hotels, and railways, are expected to be constructed.
In addition to this, large investments in the infrastructure are predicted as Qatar holds one of the largest NPG reserves in the world and is blessed with other natural resources such as petroleum.
Having carefully examined the market and after extensive studies, SIS and Hitachi Plant Technologies decided to form Hitachi Plant Qatar L.L.C .
Hitachi Plant Qatar L.L.C will expand its business activities to Qatar and other countries in Middle East, focusing on the following areas :
Providing air conditioning, plumbing and electrical works to building construction and infrastructure facilities, water distribution network, water treatment facilities to buildings and factories, industrial machineries for gas and petroleum plants, civil and building engineering, procurement and construction. Also Hitachi Plant Qatar L.L.C is expected to serve as a base for the Hitachi Group's social innovation business.
Establishing the joint venture company Hitachi Plant Qatar L.L.C , SIS will utilize Hitachi Group's advanced technologies and global network to expand its business activities. Similarly Hitachi Group will utilize SIS's brand name, sales channel in Qatar to expand its infrastructure projects.
In Qatar, Hitachi Plant Technologies just completed HVAC scope to New Doha International Airport - Emiri Terminal project and being granted providing MEP scope to Qatar Foundation Head Quarter project.
SIS and Hitachi will maximize each company's strengths to expand our business activities in social infrastructure and play a positive role in expansion of Qatar economy.
|Company Name||Hitachi Plant Qatar L.L.C|
|Business Areas||Engineering, procurement and construction of air conditioning, plumbing, electrical facilities, water treatment facilities, industrial machinery, civil engineering and building|
|Representative||Chairman : H.H. Sheikh Abdulla Bin Khalifa Bin Hamad Al Thani (SIS)
CEO : Hitoshi Ohkawara (Hitachi Plant Technologies)
|March, 2012 (scheduled)|
|Capital||5 million Qatari rials (QR) (approximately 100 million yen)*|
|Equity (％)||SIS : 51％; Hitachi Plant Technologies : 49％.|
|Company Name||Specialized International Services O.P.C.|
|Business Areas||Business investment, Qatar agent for international companies, real estate development, etc.|
|Location||P.O. Box 8612, Doha, Qatar|
|Shareholders||H.H. Sheikh Abdulla Bin Khalifa Bin Hamad Al Thani : 100％|
|Representative||Chairman : H.H. Sheikh Abdulla Bin Khalifa Bin Hamad Al Thani|
|Company Name||Hitachi Plant Technologies, Ltd.|
|Business Areas||Development,design,manufacture,sale,service and construction of social infrastructure systems,industrial systems,air conditioning systems,and energy systems|
|Location||5-2, Higashi-Ikebukuro 4-chome, Toshima-ku, Tokyo, 170-8466, Japan|
|Shareholders||Hitachi, Ltd. : 100％|
|Representative||President and Representative Director : Toshiaki Higashihara|
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2010 (ended March 31, 2011) consolidated revenues totaled 9,315 billion yen ($112.2 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Hitachi Plant Technologies, Ltd. ― Supporting Infrastructure with Environmental and Energy-Saving Technologies ― is a member of the Hitachi Group. Harnessing its engineering capabilities, monozukuri (manufacturing) skills and project expertise, Hitachi Plant Technologies offers total solutions for social and industrial infrastructures.
The core businesses of our group mainly comprise Social Infrastructure Systems (pumps, compressors and water treatment systems), Industrial Systems (mechatronics, and chemical and pharmaceutical plants), Air Conditioning Systems (industrial and building facilities) and Energy Systems (nuclear and thermal power plants construction). For more information on Hitachi Plant Technologies, please visit the company's website at http://www.hitachi-pt.com.