Japan-based electronics manufacturer Hitachi will be moving its global rail business to London. The company announced on March 20, 2014 that it is looking at ways to expand its business in Britain, as well as other places in Europe.
The company appointed Alistair Dormer – who is the former head of Hitachi Rail Europe – as the new chief executive officer of the company’s global rail systems business. The statement released by Hitachi said that Dormer’s new position will become effective starting from April 1, 2014. The company is aiming towards lucrative contracts with Great Britain in the new £50-billion High Speed 2 railway, which is scheduled to be built in two stages from 2016 and the project is expected to be completed by 2033.
A spokeswoman for Hitachi says, “The focus of the international leadership team based in London is to grow Hitachi’s global rail business in international markets”. However, the Japan-based arm of the business will be done from Tokyo. Hitachi says that the announcement does not mean that a large number of employees will move from one Hitachi Rail’s location to the other, nor any dilution of their support to customers in Japan, China, as well as other markets.
The UK finance minister George Osborne says that the announcement from Hitachi is good news for the British economy.
Photo Credits: Hitachi