Hitachi : Finmeccanica expects final offers for rail assets soon
January 14, 2015 at 06:33 am EST
Share
MILAN (Reuters) - Finmeccanica (>> Finmeccanica SpA) said on Wednesday talks with Japan's Hitachi (>> Hitachi, Ltd.) and China's Insigma over the sale of its rail assets were progressing with the aim of receiving final offers rapidly.
MILAN (Reuters) - Finmeccanica (>> Finmeccanica SpA) said on Wednesday talks with Japan's Hitachi (>> Hitachi, Ltd.) and China's Insigma over the sale of its rail assets were progressing with the aim of receiving final offers rapidly.
The Italian state-controlled industrial conglomerate said talks with the two bidders were progressing "in parallel" and that the final offers would enable it to make a conclusive assessment.
Finmeccanica is selling its unprofitable train-making unit AnsaldoBreda and its 40 percent stake in rail signalling company Ansaldo STS (>> Ansaldo STS SpA) in a bid to cut debt and focus on its core aerospace and defence businesses.
(Reporting by Danilo Masoni; editing by Agnieszka Flak)
Hitachi specializes in manufacturing and marketing of electronic and industrial equipments. Net sales (including intragroup) break down by family of products and services as follows:
- social infrastructure and industrial systems (24.7%): elevators, escalators, industrial facilities, railway systems, power generation units, etc. The group also provides engineering and construction of nuclear, hydroelectric, and thermal power plants services;
- information and telecommunications products and services (20.1%): systems integration, cloud computing, software, servers, hard disks, PCs, ATMs, data communication base stations, payment terminals, etc.;
- materials and components (16.6%): semi-conductor materials, printed circuit cards, cables, copper and forged steel products, magnetic materials, organic and inorganic chemical products, etc.;
- construction equipment (10%) : hydraulic excavators, wheel loaders, mining equipment, etc.;
- automotive systems (9.4%): powertrain systems, control systems, etc.;
- electronic products (9.2%): fiber-optic components, screen tubes, testing and measurement equipment, medical equipment, equipment for manufacturing semiconductors, etc.;
- household appliances (4.7%): heating and air conditioning equipments, refrigerators, washing machines, etc.;
- other (5.3%): mainly transport, financial and logistical services.
Net sales are distributed geographically as follows: Japan (49.2%), Asia (21.3%), North America (12.7%), Europe (10.8%) and other (6%).
HITACHI, LTD. 
