Greentech Lead Asia: Hitachi, an electronics and industrial machinery manufacturer, will buy wind-turbine business from Fuji Heavy Industries, maker of the Subaru brand of cars, for $12 million.
The companies will begin discussions on the specific terms of the agreement and plan to complete the sale by July 1.
Hitachi posted about 27 billion yen in sales from the wind business for the year ended March 2011. Fuji Heavy’s revenue from the segment was about 5 billion yen during the same period, according to a report in Bloomberg.
Japan is gearing up for more clean energy following the nuclear accident at Fukushima Dai-Ichi plant last year. Specifically in the area of wind power generation systems, further introduction and expansion in Japan is widely predicted.
The two companies together developed a 2 MW downwind type power generation system in 2003 and a total of 25 units have been delivered to six sites in Japan.
Hitachi plans to consolidate the resources of the two companies to enhance the design and development capability, and integrate the manufacturing and distribution. Fuji Heavy will focus on its other divisions, including Subaru.