Hitachi completes acquisition of Italian electric equipment manufacturer COET
By Luke Willetts - 22nd February 2024
Coet HQ in Milan, Italy
Italy / Japan – Following regulatory approval, Hitachi Energy, a subsidiary of Hitachi Ltd of Tokyo, Japan has finalised the acquisition of Milan-based electric equipment manufacturer Coet S.p.A*. This follows an initial agreement of purchase/sale signed in August 2023. This acquisition strengthens Hitachi’s (Hitachi Energy’s Grid-eMotion division**) position in the electric mobility sector by expanding its product portfolio and production capacity of its electric vehicle charging equipment. Very little will change in the day-to-day operation of Coet, which will remain a standalone business retaining all of its 80 employees.
*The Milan-based company specialises in the design and manufacture of power equipment for electric mobility, rail, and industry.
