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| September 30, 2003 |
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| Hitachi to Set up New High-Pressure Fuel Pump Factory in Sachsen, Germany |
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Tokyo, September 30, 2003 --- Hitachi, Ltd. (NYSE: HIT / TSE: 6501) today announced that it is to establish a new factory in Sachen, Germany, for the production of mainly high-pressure fuel pumps*, a core component of gasoline direct injection engines for automotive applications, whose demand is expected to grow. This new factory will be set up under Hitachi Automotive Systems Europe GmbH, a subsidiary of Hitachi, Ltd. Construction is to start in November 2003 and production is scheduled to start in January 2005.
The high-pressure fuel pump market is expected to continue growing due to increasingly strict environmental regulations in Europe related to the automobile industry. Car manufacturers need to introduce more fuel-efficient engines utilizing direct injection technology. Hitachi estimates the market for high-pressure fuel pumps for gasoline direct injection will increase from 0.2 million units in 2002 to 3.8 million units in 2009.
Hitachi understands that local production is essential for the promotion of the pump in Europe. The new factory will target a turnover of 5 billion yen in 2007.
Hitachi already has one factory for automotive products in Europe, Hitachi Automotive Products Europe Ltd. This factory will continue to produce mainly electronic products and the new factory will produce mechatronic products for automotive applications to expand the business in Europe.
* High-Pressure fuel pump
A pump to supply fuel to fuel injection equipment at high pressure.
| About New Factory |
| Factory name |
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Hitachi Automotive Systems Europe GmbH. Sachsen Works |
| Factory Manager |
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Mineo Kashiwaya (Currently Hitachi Ltd., Automotive Systems Executive Staff to President)
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| Location |
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Rosswein, Sachsen, Germany |
| Production |
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Scheduled for January 2005 (Construction begins November 2003) |
| Products |
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High-pressure fuel pumps for gasoline direct injection, etc. |
| Turnover |
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Around 5 billion yen in 2007 |
| Employees |
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Around 70 in 2007 |
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| About Hitachi Automotive Systems Europe GmbH. |
| Company name |
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Hitachi Automotive Systems Europe GmbH. |
| Managing Director |
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Haruo Okamoto |
| Location |
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Schweig-Oberding, Bayern near Munich airport Germany |
| Establishment |
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July 2003 |
| Capital |
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10.5 million euros (as of End of 2004) |
| Shareholders |
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Hitachi Ltd., 67% Hitachi Automotive Products Europe Ltd., 33%(as of end of 2004)
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| Business |
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Manufacture and sales of automotive mechatronics components (2005) |
| Employees |
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Around 100 include Sachsen Works (2005) |
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| About Hitachi Automotive Products Europe Ltd. |
| Company name |
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Hitachi Automotive Products Europe Ltd. |
| Managing Director |
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Haruo Okamoto |
| Location |
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Bolton, U.K. |
| Establishment |
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April 1997 |
| Capital |
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9 million pounds sterling |
| Shareholders |
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Hitachi Ltd. 75%, Hitachi Europe Ltd. 25% |
| Business |
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Manufacture and sales of automotive electronics components |
| Employees |
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Around 130 (as of September 2003) |
| About Hitachi, Ltd. |
| Hitachi, Ltd. (NYSE: HIT), headquartered in Tokyo, Japan, is a leading global electronics company, with approximately 340,000 employees worldwide. Fiscal 2002 (ended March 31, 2003) consolidated sales totaled 8,191.7 billion yen ($68.3 billion). The company offers a wide range of systems, products and services in market sectors, including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services. For more information on Hitachi, please visit the company's Web site at http://www.hitachi.com. |
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| Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice. |
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