Hitachi Rail STS

Hitachi Rail STS SpA[4] (from Hitachi Rail Signalling and Transportation Systems) is an Italian transportation company owned by Hitachi with a global presence in the field of railway signalling and integrated transport systems for passenger traffic (railway/mass transit) and freight operations. Hitachi Rail STS plans, designs, manufactures, installs and commissions signaling systems, components and technologies for the management and control of newly built or upgraded railways, transit and freight lines worldwide.

Headquartered in Genoa, Italy, it is a wholly owned subsidiary of Hitachi. It was previously listed on the Borsa Italiana and was a component of the benchmark FTSE Italia Mid Cap Index.

Providing design, manufacture, installation, integration and maintenance of a wide range of train control systems and equipment, Hitachi Rail STS employs 4,327 people worldwide as of 2018.

History

1853–2006: Ancestor companies

2006–2019: Ansaldo STS

The company was founded as "Ansaldo STS" in 2006 through the merger of Ansaldo Trasporti Sistemi Ferroviari and Ansaldo Signal.[8][9] It began trading on the Milan Stock exchange, with 60% of its shares publicly held and 40% owned by Finmeccanica S.p.A.[10] Both companies had their roots in the Ansaldo engineering conglomerate which was gradually absorbed by Finmeccanica. Ansaldo Trasporti Sistemi Ferroviari was created in 2000, acquiring certain units of Ansaldo Trasporti (which had been fully integrated into Finmeccanica) the following year.[9] The creation of Ansaldo STS was followed by a partial IPO in March 2006.[11]

On 24 February 2015 Hitachi acquired Finmeccanica’s 51% shareholding and initiated a tender offer for the remaining shares of the company.[12] In the occasion of the Ordinary General Shareholders’ Meeting on 2 November, Hitachi Rail Italy Investment completed the acquisition of the 40% of the share capital of Ansaldo STS. During the first meeting of the new board of directors, chaired by Alistair Dormer, Stefano Siragusa was confirmed as chief executive officer and general manager of the company, with the powers to manage the company and the group.

In March 2015, after the public tender offer launch on the society and after the purchase of other shares at 10.5 euros each, Hitachi Rail Italy Investments arrived at 50.7% of the share capital.[13] Hitachi has a long term goal of integrating the company to provide a range of cars and signaling products and a manufacturing footprint in Europe.[14]

Stefano Siragusa, chief executive officer and general manager of the company, resigned on 31 March 2016 and remained in charge until 13 May 2016 when, on the occasion of the shareholders’ general meeting the new board of directors were elected.[15] On 24 May, the new Board appointed Andrew Barr as the new chief executive officer and general manager of Ansaldo STS. Andrew Barr was also granted the operational powers necessary for the management of the company and the group.[16]

In October 2018, Hitachi agreed to buy Elliot Management's remaining 32% shareholding.[17] Hitachi subsequently made a takeover offer for the remaining shares. On 22 January 2019 Hitachi announced it had gained a 99% shareholding.[18][19]

former name	Ansaldo STS (2006)
type	Subsidiary
key people	Alistair Dormer (Chairman), Giuseppe Marino (CEO) ,‡R1R‡ Alberto de Benedictis (Deputy Chairman) ‡R2R‡
industry	Engineering
foundation	2006
predecessor	Gio. Ansaldo & C. and Hitachi Rail Italy
location city	Genoa
location country	Italy
services	Railway signalling and control systems, railway design, engineering and maintenance
revenue	€1,437.1 million (2018) ‡R3R‡
operating income	€118.5 million (2018) ‡R3R‡
net income	€88.3 million (2018) ‡R3R‡
num employees	4,327 (2018) ‡R3R‡
parent	Hitachi
subsid	Union Switch & Signal (1988–2009)
homepage	hitachirail.com

History

1853–2006: Ancestor companies

2006–2019: Ansaldo STS

Since 2019: Hitachi Rail STS

Operations

High-Speed rail

Main Lines and freight

See also

References

Mass transit

Planning and supervision

Components