Hitachi to Acquire U.S. Industrial Machinery Maker Sullair

Tokyo, April 25 (Jiji Press)--Hitachi Ltd. <6501> said Tuesday that it will acquire all shares in U.S. industrial machinery maker Sullair for 1,245 million dollars with a view to expanding its sales network. The Japanese electronics and machinery maker hopes that the acquisition of Sullair, which mainly makes and sell air compressors, will help promote the introduction of its sophisticated information technologies into factories. In 2016, Sullair incurred a net loss worth some 12.4 billion yen and sales worth 43.1 billion yen. Hitachi sells air compressors made by a subsidiary mainly in Japan and other parts of Asia. The company believes that its air compressor business can be complemented by Sullair, whose sales network chiefly covers North America. END