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.
September 5, 2013
---Investigation of Various Potential Measures to
Help Achieve a Best Mix of Energy--
Tokyo, September 5th, 2013 --- Hitachi, Ltd. (TSE:6501) today announced a principal agreement with Lithuanian energy company Lietuvos Energija (LE) which will see the companies embark on comprehensive consultations in Lithuania covering a wide range of energy fields.
LE is a public corporation with overall jurisdiction over energy in Lithuania, including electric power distribution. In reaching this agreement to enter into consultations with Hitachi, the companies intend to investigate a wide range of potential collaborations aimed at providing a mix of energy sources for Lithuania, including combined heat and electric power supply systems. The Companies will also discuss about potential collaboration in smart energy control, smart network in electricity areas, as well as the development of electrical vehicles infrastructure.
Speaking about the agreement, Daulius Misiunas, CEO & Chairman of the Board at LE said, "We are drawing up this new energy policy in order to achieve energy security in the Baltic region. We wholeheartedly welcome this opportunity to adopt cutting-edge technology from Japan for use in energy and other sectors."
Koji Tanaka, Executive Vice President of Hitachi, Ltd. said, "In addition to our proposal of cutting-edge nuclear technology, if there are other opportunities to broaden our contributions in the Baltic region, we are in a fantastic position to help through our experience and innovative technology across the entire Hitachi group."
Hitachi is accelerating the global expansion of its Social Innovation Business, and has identified Central and Eastern Europe, including Lithuania, as a key region where it is seeking to expand its operations further. Hitachi Europe opened an office in Lithuania in April 2012 and has already been investigating a wide range of potential business opportunities in Baltic countries.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 326,000 employees worldwide. The company's consolidated revenues for fiscal 2012 (ended March 31, 2013) totaled 9,041 billion yen ($96.1 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional material & components, automotive systems and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
