3 min read
Hitachi Energy and Arteche have signed an agreement where Hitachi Energy will acquire a minority stake in Arteche Gas Insulated Transformers S.L, a manufacturer of gas-insulated instrument transformers, with the aim to establish a joint venture (JV) company. The transaction is expected to be closed in the first half of 2022, subject to necessary regulatory approvals.
Hitachi Energy and Arteche are global players for instrument transformers with long history of proven track records in technology innovation and manufacturing excellence.
Under this agreement, the new JV is expected to be located in Vitoria, Spain after the transaction is closed. Arteche will hold 51 percent majority stake while Hitachi Energy will own the remaining 49 percent. Following necessary regulatory approvals, the JV governance will be done within the framework of a new independent management board with both companies equally represented.
As a result of this agreement, Hitachi Energy will be able to expand its gas-insulated instrument transformer portfolio for air-insulated and gas-insulated switchgear (GIS) to address the growing GIS market and strengthen its value chain ownership. It will also accelerate the development of new solutions for our EconiQ™ high-voltage portfolio that eliminates sulfur hexafluoride (SF6) with scalable solutions for the lowest carbon footprint.
“This agreement represents a milestone for both companies. This will help our growth in this segment and accelerate eco-efficient innovation to advance a more flexible, sustainable and secure energy system” said Markus Heimbach, Managing Director of the High Voltage Products business in Hitachi Energy.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 38,000 people in 90 countries and generate business volumes of approximately $10 billion USD.
About the Arteche Group
Founded in 1946, the Arteche Group carries out its activity in the electricity sector, from generation to distribution, specialising in the equipment, components and electric solutions industry. Within this framework, the Arteche Group ranks among the TOP 3 world leaders in the instrument transformers market, leads the auxiliary relays market and maintains a regional leadership position for the remaining products specifically intended for highly-demanding and high added value markets, such as renewable generation and railway. The Arteche Group’s business focusses on enabling the transport and distribution of electric energy from any generation plant to the final user with efficiency, quality and reliability. For this purpose, the company consistently invests in R&D&i, with the aim to improve the quality and efficiency of its products, innovate in the development of new products and provide its customers with a differential added value. Arteche currently has commercial distribution capacity in over 175 countries; it has 13 factories in Europe, America and Asia, including 6 research centres, and over 2,400 employees around the world.