Hitachi moves rail business to London, chasing city's HS2 bid
March 22, 2014, 12:08 am TWN
LONDON--Japanese electronics giant Hitachi will move its global rail business to London, as it seeks expansion in Britain and elsewhere in Europe, it said Thursday.
The group appointed London-based Alistair Dormer, the former head of Hitachi Rail Europe, as the new chief executive officer of its global rail systems business with effect from April 1, it said in a statement.
Hitachi aims to bid for lucrative contracts on Britain's new 50-billion-pound (US$82.5 billion) High Speed 2 (HS2) railway which will be built in two stages from 2016 with completion slated for 2033.
"The focus of the international leadership team based in London is to grow Hitachi's global rail business in international markets," a Hitachi spokeswoman said.
But the Japanese arm of the business will still be conducted from Tokyo.