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 28, 2012
Chengdu and Tokyo, March 28, 2012 --- Hitachi, Ltd.(TSE:6501/NYSE:HIT), today announced that Hitachi Elevator (China) Co., Ltd., a subsidiary of Hitachi, will establish a new production base in Chengdu, Sichuan Province, the Republic of China. The new company, Hitachi Elevator (Chengdu) Co., Ltd. will meet the growing demand in the western region of the country. Hitachi Elevator (Chengdu), which started construction on March 27, is scheduled for completion in March 2013. It will have a production capacity of 5,000 units a year in fiscal 2013, growing to 8,000 units a year by fiscal 2015.
Hitachi launched its elevator business in China on a full scale in 1981 and currently is manufacturing elevators in three cities, namely Guangzhou, Shanghai and Tianjin. In fiscal 2011, its nationwide production capacity was 42,000 units a year. With the establishment of new production base in Chengdu, Hitachi will strengthen its production network through the four cities in a bid to further boost its production capacity to 74,000 units a year by fiscal 2015. Furthermore, it will optimize its R&D, manufacturing, supply chain and after-sales service systems for offering products and services that optimally meet customers' needs, aiming to further expand its elevator business in China.
HELC, a Hitachi subsidiary headquartered in Guangzhou, is a leading Elevator and Escalator company in China. It was established in 1995. Since then, Hitachi Elevator (China) has been contributing development of Chinese society through providing excellent elevators and escalators.
Hitachi Elevator (Chengdu) Co., Ltd., headquartered in Chengdu, Sichuan, is HELC's fourth elevator production base in China and will mainly produce elevators to serve customers in the western region of China.
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 totalled 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.
