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Hitachi to Buy Canada's Canduct Group to Expand North American Transformer Insulation Business

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Hitachi (TYO:6501) unit Hitachi Energy has agreed to acquire Canduct Group, a Canadian manufacturer of transformer insulation kits and components, to expand its North American transformer insulation business.

The acquisition, expected to close in the early third quarter of the year, will integrate Canduct's operations and over 300 employees, expanding Hitachi Energy's regional capabilities, according to a statement on Thursday.

Canduct, headquartered in Ontario and founded in 1982, has supplied Hitachi Energy with insulation solutions for more than two decades.

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