KUALA LUMPUR, Sept 28 (Bernama) -- Hitachi Metals Ltd (the Company) announced it has been resolved at the board of directors’ meeting that the Company’s trade name be changed.
The above-stated change of trade name will be made on the condition that the takeover bid by K.K. BCJ-52 for which a public release was issued, is carried out successfully, and a subsequent range of procedures necessary for the change of the trade name, including partial revision of the Articles of Incorporation, are completed.
According to a statement, the new trade name is Proterial Ltd.
The Company has its origin in Hitachi Ltd, which was founded in 1910, and was spun off into an independent company in 1956. Since its original foundation, the Company has grown by providing the society with many unique products developed with its high technological capabilities.
After a successful implementation of the Takeover Bid, the Company will accelerate its efforts toward further reform and growth in cooperation with the new capital partner, aiming to become a company “leading sustainability by high performance.”
Taking an opportunity afforded by the planned capital reorganisation, a step for its second independence, the Company will change its name to one befitting the new start for growth.
Thinking behind the company name, “Proterial” reflects the essence of its corporate philosophy, which consists of three elements, namely Mission; Vision; and Values. It combines “pro-” with the word “material.”
“Pro-” represents its “three pros”: Professional; Progressive; and, Proactive, while “Material” refers to the high-performance materials that its original technologies produce and which underpin the three pros.
The trade name of the Company’s group companies whose current name includes “Hitachi” will be changed on Jan 4, 2023 in principle. However, some will be changed by Jan 3, 2023 when appropriate, or later than Jan 5, 2023.
-- BERNAMA
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