ABB Power Grids

Hitachi, Ltd. completed the acquisition of an 80.1% stake in the Power Grids business of ABB Ltd. for approximately $6.4 billion (enterprise value $11 billion). The business will become a Hitachi subsidiary headquartered in Switzerland.

ABB Power Grids and Stena Recycling signed a long-term cooperation agreement on recycling of transformers.

The European Commission has approved the sale of ABB's power grids division to Hitachi, a transaction announced in 2018 involving an 80% stake for about $11 billion.

ABB Power Grids is investing in a new transformer assembly line at its Vaasa plant, expanding production capacity and creating about 30 new jobs over the next year.

ABB Power Grids bagged a $21.5 million order from Indian Oil Corporation for equipment.