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. Last Updated: 07/27/2016

Hitachi Joint Venture

TOKYO -- Japan's Hitachi Ltd. said this week it would form a joint venture with Russian partners in April to produce semiconductors in St. Petersburg.

Hitachi-Svetlana Power Electronics, capitalized at 2.2 million yen ($17,000), will become the first semiconductor production base in Russia run by a Japanese electronic manufacturer, company officials said.

The joint venture is controlled 51 percent by Hitachi and 49 percent by a group of Russian partners led by the Svetlana company of St. Petersburg.

The venture is to annually produce 100,000 transistors. Production is to start by the end of December.