|
SINGAPORE / TOKYO, Japan, June 29, 2001-- Hitachi, Ltd. today announced
that, as part of its restructuring of color TV operations in Asian
region, the company has decided to transfer color TV product management
and R&D capabilities from Hitachi Consumer Products (S) Pte. Ltd.
(HCPS) to Hitachi Asia Ltd. (HAS), Hitachi's regional headquarters.
The company has also decided to transfer the manufacturing of color
TVs at HCPS to Hitachi's factories in China and Indonesia. The production
of vacuum cleaners at HCPS will also be transferred to Thailand.
The measures announced today will make Singapore Hitachi's base for
its color TV product management and R&D. HAS is responsible for
sales, marketing and international procurement in the Asian region.
Following the transfer of color TV product management and R&D,
HAS will be able to develop the TV products that further meet market
needs.
Affected by the slowdown of the global economy, prices of color TVs
have been declining rapidly due to increased competition. And against
this backdrop, Hitachi has been strengthening competitiveness of its
TV operations on a global scale by consolidating its manufacturing
operations, which includes the transfer of cathode-ray tube TV production
from Japan to abroad.
About 550 HCPS employees will be affected by the restructuring including
about 20 R&D engineers and product management staffs that will
be transferred to HAS. Affected employees will receive a compensation
package based on the Collective Agreement signed with the Union. An
outplacement initiative will be implemented to transfer some of the
affected employees to other Hitachi Companies. Hitachi is also working
with the relevant government agencies to place affected employees
in other companies.
Hitachi will have a total of about 6,500 employees in Singapore after
the restructuring.
| Product line |
New manufacturing site |
| Wide-screen color TVs |
Hitachi Fujian Digital Media Company Ltd.
(Fuzhou China) |
| 4:3 color TVs |
P.T. Hitachi Consumer Products Indonesia
(Jakarta Indonesia) |
| Vacuum cleaners |
Hitachi Consumer Products (Thailand), Ltd.
(Bangkok Thailand) |
About HCPS*
| Company Name |
: |
Hitachi Consumer Products
(S) Pte. Ltd. |
| Location |
: |
Singapore |
| Capital |
: |
18.66 million Singapore dollars |
| Established |
: |
October 1972 |
| President |
: |
Hisayuki Kashimoto |
| Business |
: |
Manufacturing and sales of TVs and vacuum
cleaners |
| No. of Employees |
: |
About 550 |
About HAS*
| Company Name |
: |
Hitachi Asia Ltd. |
| Location |
: |
Singapore |
| Capital |
: |
24 million Singapore dollars |
| Established |
: |
February 1989 |
| President |
: |
Takashi Muraki |
| Business |
: |
Sales of Hitachi products, services
and international procurement of components and materials. |
| No. of Employees |
: |
About 870 |
About HFDM
| Company Name |
: |
Hitachi Fujian Digital Media Company
Ltd. |
| Location |
: |
Fuzhou, China |
| Capital |
: |
100 million yuan |
| Established |
: |
June 2001 |
| President |
: |
Yoshiteru Isago |
| Business |
: |
Design, production and marketing of
projection TVs and other digital media products |
| No. of Employees |
: |
About 450 (estimated as of December
2001) |
About HCPI*
| Company Name |
: |
P.T. Hitachi Consumer Products Indonesia |
| Location |
: |
Jakarta, Indonesia |
| Capital |
: |
12,780 million Rupiah |
| Established |
: |
December 1992 |
| President |
: |
Hisayuki Kashimoto |
| Business |
: |
Manufacturing and sales of color TVs,
gas cookers and rice cookers |
| No. of Employees |
: |
About 950 |
About HCPT*
| Company Name |
: |
Hitachi Consumer Products (Thailand),
Ltd. |
| Location |
: |
Samutprakarn, Thailand (near Bangkok) |
| Capital |
: |
1,050 million Bahts |
| Established |
: |
November 1970 |
| President |
: |
Hoya Nakamura |
| Business |
: |
Manufacturing and sales of refrigerators
room, air conditioners, pumps, fans, and rice cookers |
| No. of Employees |
: |
About 2,320 |
*Figures as of May 31, 2001 |
