Hitachi Chemical to set up new Thai unit to integrate lead-acid car battery business
BANGKOK, NNA - Japan’s Hitachi Chemical Co. will set up a wholly-owned manufacturing and marketing subsidiary in Thailand to integrate its automotive lead-acid battery business in Southeast Asia.
The new company, named Hitachi Chemical Gateway Battery (Thailand) Co., will be established in November with a capital of 584 million baht ($19 million), Hitachi Chemical said in a press release on Friday. It will be located in the Gateway City Industrial Estate in the eastern province of Chachoengsao, a Hitachi Chemical spokeswoman said.
An existing Hitachi Chemical Thai subsidiary, Hitachi Chemical Asia (Thailand) Co., will transfer its automotive lead-acid battery business to the new company by the end of March 2020, the statement said. It added that the new company would also merge with another Thai unit, Hitachi Chemical Storage Battery (Thailand) Public Co., to “utilize its management assets.” The integrated company is scheduled to start business operations on April 1, 2020.
The new company will utilize the group’s existing plants to manufacture automotive lead-acid batteries, the spokeswoman said. It will have about 180 employees and be led by Toshinori Osumi, who currently heads Hitachi Chemical Storage Battery (Thailand), as its representative.
Hitachi Chemical started the manufacture and marketing of automotive lead-acid batteries for the Southeast Asian market in 2012 through Hitachi Chemical Asia (Thailand). In 2017, the parent firm established Hitachi Chemical Storage Battery (Thailand) by acquiring a local company to expand the group’s automotive and industrial lead-acid battery business in the region.