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© andreypopov dreamstime.com Components | July 05, 2018

Nidec acquires Italian commercial motor manufacturer

Nidec Corporation has acquired a 100% ownership interest in CIMA S.p.A., an Italian commercial motor manufacturer, from its shareholders on July 2, 2018.
Since the acquisition of Kinetek Group Inc. and its subsidiaries, including FIR Elettromeccanica S.r.l. (FIR), in November 2012, Nidec has added to its product portfolio a new range of pumps and motors for commercial kitchen equipment used for food-service operations including restaurants and canteens (e.g., dishwashers, convection ovens), motors for construction equipment (e.g., cable hoists, ladder hoists, lifts) and pumps, primarily targeted at the European market, a press release states.

In order to strengthen its commercial motor business in Europe, Nidec, setting FIR as a core business platform in Europe, acquired the business of E.M.G. Elettromeccanica S.r.l. (EMG) in September 2015, E.C.E. S.r.l. in May 2016 and LGB Elettropompe S.r.l. (LGB) in July 2017. The main products of CIMA are motors used for ventilations and fans for agricultural and industrial purposes with no overlap between the products of FIR and those of CIMA.

At the closing of the transaction, CIMA S.r.l., headquartered in Vicenza (Italy) and founded in 1977, has been transformed from a joint stock company (S.p.A., Società per Azioni) into a limited liability company (S.r.l., Società a responsabilità limitata).

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September 21 2018 11:51 am V11.0.0-1