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Hitachi to sell about half of its stake in construction unit

by Mike Robinson

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© Reuters. FILE PHOTO – The Hitachi logo is seen in an office building, Zurich, Switzerland on September 10, 2020. REUTERS/Arnd Wiegmann/File Photo

TOKYO (Reuters) – Japan’s Hitachi Ltd plans to sell half of the 51% interest in Hitachi Construction Machinery Co. OTC: to Itochu Corp, and Japan Industrial Partners. NHK broadcaster NHK on Thursday.

The sale would represent a final tranche of Hitachi’s decade-long business portfolio overhaul, in which it sold chip-making equipment manufacturer Hitachi Kokusai Electric and chemicals maker Hitachi Chemical in recent years.

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