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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.
December 1, 2021
London, December 1, 2021 – Hitachi announced today that it has agreed to acquire business activities related to Bombardier Transportation's contribution to the V300 ZEFIRO very high-speed train from Alstom. The transaction is part of Alstom's commitments to the European Commission in relation to Alstom's acquisition of Bombardier Transportation with reference to the V300 ZEFIRO.
For Hitachi Rail, the transaction consolidates the company's commitment to the very high-speed rail market, especially Italy's Frecciarossa 1000, and reinforces the strength of the company's Service and Maintenance capabilities.
Alstom will continue to honour its obligations under the existing orders for Rolling Stock from Trenitalia and ILSA to ensure a seamless transition.
The transaction will comply with all applicable social processes and consultations with employee representative bodies and is subject to regulatory approvals. Closing of the transaction is expected in the first semester of 2022.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, contributes to a sustainable society with a higher quality of life by driving innovation through data and technology as the Social Innovation Business. Hitachi is focused on strengthening its contribution to the Environment, the Resilience of business and social infrastructure as well as comprehensive programs to enhance Security & Safety. Hitachi resolves the issues faced by customers and society across six domains: IT, Energy, Mobility, Industry, Smart Life and Automotive Systems through its proprietary Lumada solutions. The company's consolidated revenues for fiscal year 2020 (ended March 31, 2021) totaled 8,729.1 billion yen ($78.6 billion), with 871 consolidated subsidiaries and approximately 350,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.