Japan Electric Corporation issued a press release on the 18th, saying that on the day of the company’s board of directors, the company decided to acquire the motor control department of Emerson Electric Co., and signed an agreement with Emerson Electric on the 17th.
According to the communique, Emerson Electric's motor control department has research, development, production and sales networks in the United States, Mexico, the United Kingdom and China. It mainly produces industrial and air-conditioners, home appliances and other motors, and has annual sales of US$ 836 million. About 6,000 people. Nidec plans to complete the acquisition by the end of September this year, employees will also receive all, but did not announce the specific purchase price.
Nippon Electric Co., Ltd. mainly focuses on precision small motors with IT machines as the center, and also produces medium-sized motors for the automotive, industrial and home appliance industries. The company plans to increase annual sales to 2 trillion yen by 2015 in the medium-term growth strategy. The level of yuan, accelerating overseas M&A activity is one of the main means for the company to achieve this goal.
In January of this year, Nippon Denki acquired an Italian company and strengthened its home appliance motor business in Europe. The acquisition of Emerson Electric's motor control division aims to further expand its global business and strengthen its global R&D, production and Sales system.
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