The Limited Times

Now you can see non-English news...

Hitachi wants to buy Thales rail systems, valued at 1.66 billion euros

2021-08-04T06:07:30.741Z

The transaction will need to be approved by regulatory authorities. The Japanese industrial conglomerate Hitachi announced Wednesday, August 4 that it had entered into exclusive negotiations with the French Thales to buy its activity in railway signaling systems, for an enterprise value of 1.66 billion euros. Read also: Japan: at Yahoo Japan and Hitachi, happiness is in the data The final price of the transaction will be set at a later date, and the transaction



The Japanese industrial conglomerate Hitachi announced Wednesday, August 4 that it had entered into exclusive negotiations with the French Thales to buy its activity in railway signaling systems, for an enterprise value of 1.66 billion euros.

Read also: Japan: at Yahoo Japan and Hitachi, happiness is in the data

The final price of the transaction will be set at a later date, and the transaction is expected to be finalized by early 2023, subject to the approval of the relevant regulatory authorities, Hitachi said in a statement.

Thales's

global “

Land Transport Systems

” (GTS) activity generated sales of € 1.6 billion in 2020, or around 10% of the French group's total sales. Established in 42 countries, this division has three headquarters in Germany, France and Canada and has 9,000 employees.

"

With this important strategic move, we will be able to focus on the development of three major high-tech activities with long-term growth

" and capable of generating "

double-digit

"

margins

, underlined Thales CEO Patrice Caine, quoted in a separate press release from the French group.

Thales intends to focus on three major markets: aerospace, defense and security, and the digital security sector.

Read also: Thales opens the site for the digitization of German rail

Hitachi, for its part, is already an integrated global giant in the rail industry, but GTS will offer it a geographical presence complementary to its own in this segment (Japan, Italy, United Kingdom and United States), and should also enable it accelerate the digital transformation of its activities in the field.

Source: lefigaro

All business articles on 2021-08-04

You may like

Tech/Game 2021-04-20T10:31:41.304Z

Trends 24h

Business 2021-09-23T12:29:39.454Z

Latest

© Communities 2019 - Privacy