Sector News

Hitachi Chemical to buy Italian lead battery business

November 29, 2016
Chemical Value Chain

Hitachi Chemical will take control of Italian autoparts group Fiamm’s lead-acid battery business, as the Japanese company aims to gain a European foothold in a growth field.

The two companies announced Monday that Hitachi Chemical will pay roughly 10.2 billion yen ($90.5 million) for a 51% stake in the spun-off automotive and industrial battery operations, with a target closing date of February.

Demand for the rechargeable batteries in environmentally conscious Europe is high, both for cars with engine stop-start systems that have become more widespread amid tightening fuel regulations, and for uninterruptible power-supply systems.

Hitachi Chemical plans to bring its battery-life-extending technology to bear on the newly acquired production. Tapping into Fiamm’s Europe-wide sales network will help it seek a bigger slice of the lead battery market.

Hitachi Chemical has for several years been building up its battery business, treating it as a growth industry comparable to semiconductor and liquid crystal components. The company kicked off this global expansion with the purchase of a Taiwanese manufacturer in 2015, but until now, its outposts have been concentrated in Asia. The European deal marks a step Hitachi Chemical had been eyeing.

Source: Nikkei

comments closed

Related News

September 25, 2022

France and Sweden both launch ‘first of a kind’ hydrogen facilities

Chemical Value Chain

France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).

September 25, 2022

NextChem announces €194-million grant for waste-to-hydrogen project in Rome

Chemical Value Chain

The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.

September 25, 2022

The problem with hydrogen

Chemical Value Chain

At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?