FIAMM and Hitachi Chemical announce closure of the deal, FIAMM Energy Technology SpA is born.
The agreement signed on 28 November 2016 was completed within the expected time, laying the basis for the creation of the Italian-Japanese joint venture, the last act in a long process of assessment which FIAMM set up to identify a business partner with which to strengthen the strategic assets of the group and the safeguarding of the markets in which it is involved.
Today (14 February - ed.), “Hitachi Chemical” has completed the purchase of 51% of FIAMM Energy Technology SpA, the NewCo created following the separation of the FIAMM Group from the business of automotive batteries and industrial batteries using lead-acid technology. The FIAMM Group is a shareholder in the new company with 49% of the shares.
The joint-venture forms part of the medium-long term strategic plan of “Hitachi Chemical”, aimed at strenthening its role in the energy storage sector, by enhancing its productive capacity and its direct presence in fast-growing markets at world level.