Japan’s Hitachi Chemical has reported that it will establish a regional headquarters in the USA, based in Cupertino, California. Effective from April 1, 2015, Hitachi Chemical America Ltd (HCA) will be responsible for inter-regional sales and marketing management functions, identifying new business opportunities and regional compliance issues relating to subsidiaries in the USA.
Hitachi Chemical currently has one sales subsidiary, two manufacturing subsidiaries and one research subsidiary in the USA. Hitachi Powdered Metals (USA) Inc. will become a wholly owned subsidiary of HCA.
Q3 group sales increase
Hitachi Chemical also reported third quarter results for fiscal 2014 which saw sales rise by 6.4% to Yen 393.7 billion ($3.289 billion) with operating income increasing by 18.6% to Yen 25.8 billion ($216.3 million). The ‘Advanced Components & Systems’ division which includes sintered friction materials and structural PM parts production, reported a 6.4% increase in sales to Yen 183.3 billion ($1.531 billion).