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Nidec acquires Emerson Electric assets
Nidec Corp. acquires the motors, drives and electric power generation businesses of Emerson Electric Co. For this purpose, Nidec entered into an asset and stock purchase agreement on August 2, 2016.
In February 2010, Nidec acquired the Motors & Controls business, currently Nidec Motor Corporation (NMC), from Emerson. In order to further strengthen the Nidec’s industrial and commercial business, centered on NMC, the company acquired Ansaldo Sistemi Industriali S.p.A. (currently, Nidec ASI S.p.A.), a manufacturer of large industrial motors, drives and generators, in June 2012. Subsequently in September 2012 Nidec also acquired Avtron Industrial Automation, Inc., a manufacturer of industrial encoders, and Kinetek Group Inc., a manufacturer of commercial motors. In line with this strategy, the new acquisition enables Nidec "to further enhance its industrial and commercial business and significantly grow Nidec’s scale in this market so that Nidec can flexibly meet its customers’ increasing needs". The purchase price is USD 1'200 million (on a cash and debt-free enterprise value basis) and the consideration will be all cash.
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