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Stock Market & Financial Investment News

News Breaks
August 20, 2014
06:16 EDTHTHIY, DDAIFHitachi among auto-part makers fined by China, WSJ reports
China has fined 12 Japanese auto-part makers a total of $202M for alleged price manipulation, the Wall Street Journal reports. Hitachi (HTHIY), NSK, NTN and Sumitomo Corp are among the companies to be fined by the National Development and Reform Commission for colluding over prices of auto parts. Daimler (DDAIF), Audi and BMW may also face penalties from the NDRC over the cost of spare parts in China. Reference Link
News For HTHIY;DDAIF From The Last 14 Days
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January 22, 2015
07:08 EDTHTHIYJohnson Controls agrees to form joint venture with Hitachi
Johnson Controls (JCI), Hitachi (HTHIY) and Hitachi Appliances have signed a definitive agreement on January 21 to form a previously announced global joint venture that will bring customers world-class variable refrigerant flow technology, as well as room air conditioners and absorption chillers to meet increasing demands for energy efficient air conditioning options. The Johnson Controls-Hitachi joint venture is expected to have 2016 sales of approximately $3.0B. The formation of the joint venture is expected to close in the fourth quarter of fiscal 2015, pending regulatory approvals.
January 21, 2015
20:11 EDTHTHIYJohnson Controls, Hitachi to form global HVAC joint venture
Johnson Controls (JCI), Hitachi, Ltd. (HTHIY) and Hitachi Appliances entered into a definitive agreement for their global joint venture while at the World Economic Forum in Davos, Switzerland. Through the agreement, Johnson Controls will obtain a 60% ownership stake in Hitachi Appliances' more than $2.6B global air conditioning business, excluding sales and service operations in Japan. The Johnson Controls-Hitachi joint venture will bring customers a full range of air conditioning products, including variable refrigerant flow technology, inverter technology based room air conditioners and absorption chillers on top of existing Johnson Controls products that meet global customer demands.

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