Hitachi, Ltd.(NYSE:HIT) today announced that it has entered Technical Service
Agreements (TSAs) with two Canadian companies, ATCO Power, Ltd. in January and
SPC(SaskPower Corporation, Ltd.) in February. The TSAs are part of Hitachi's
Medium-term Business plan called the i.e. HITACHI Plan to become a "best solutions
partner." These are the first TSAs that Hitachi has formed with Canadian companies,
and the agreements call for Hitachi to provide a fast response on a 24 x 7 basis to
customer requests received via the Internet.
Over the past 30 years, Hitachi has delivered 19 steam turbines to seven power
companies in Canada. As the majority of these facilities have been in operation for more
than 20 years, they need technical support to be maintained effectively to enhance their
utilization rates and operate efficiently.
In response to these requirements, Hitachi began discussing TSAs with Canadian power
companies roughly a year ago leading to the official signings in January and February
2000.
Through Hitachi's Canadian subsidiary, Hitachi Canadian Industries Ltd. (HCI), the
Power & Industrial Systems Group will strive to win orders for maintenance contracts
in addition to TSAs and continue to renew itself by building the infrastructure to
provide best solutions for its customers.
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