Nidec Completes Acquisition of Emerson Electric Co.’s Motors, Drives and Electric Power Generation Businesses
2017年2月1日 - 3:30PM
Nidec Corporation (TSE:6594) (OTC US:NJDCY) (the “Company” or
“Nidec”) announced today that the Company completed the
pre-announced acquisition of the motors, drives and electric power
generation businesses (the “Acquired Business”) of Emerson Electric
Co. (“Emerson”) (the “Transaction”) on February 1, 2017, Japan
time, except for acquisitions in certain jurisdictions. As a result
of the Transaction, the Acquired Business, consisting of the
companies listed below, became Nidec’s subsidiaries. The remaining
acquisitions, including Leroy Somer Electro-Technique (Fuzhou) Co.,
Ltd., are scheduled to be completed by September 30, 2017.
1. Outline of the New Subsidiaries
1) Company Names
Country |
Current Company Name |
Planned New Company Name |
France |
Leroy-Somer Holding |
Nidec Leroy-Somer Holding |
UK |
Control Techniques Limited |
Nidec Control Techniques Limited |
USA |
Emerson Industrial Automation USA |
Nidec Industrial Automation USA |
USA |
Kato Engineering Inc. |
Kato Engineering Inc. |
India |
Emerson Industrial Automation Electric Power Generation Private
Limited |
Nidec Industrial Automation India Limited |
2) Capital Structure
A graph accompanying this announcement is
available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/9d7b3a67-94ec-4a6f-a873-56e8d388102a
3) The companies below will play central
roles in the control and management of the Acquired Business.
Outline of Leroy-Somer Holding (France)
1) Directors and Officers
Director and
Chairman: |
Xavier Trenchant |
Director and Deputy
CEO: |
Guillaume de la
Codre |
Director: |
François Lorrain |
2) Address Angouleme, France
Outline of Control Techniques Limited (UK)
1) Directors and Officers
Director: |
Scott Anderson |
Director
(Secretary): |
Christopher Birks |
Director: |
Guillaume de la
Codre |
Director: |
Mark Mager |
2) Address Powys, United Kingdom
2. Purpose of the Transaction and Future Operation
Policy
Nidec has been actively developing a new growth
platform with particular focus on industrial and commercial
businesses. In line with this strategy, the Transaction enables
Nidec to further enhance and expand its industrial and commercial
businesses to flexibly fulfill evolving customer need.
The Acquired Business has a strong brand, solid
business foundation and excellent customer base, particularly in
Europe and North America. Nidec expects to accelerate the Acquired
Business’s growth with expected synergies including 1)
complementary product fit with full lineup in industrial products
and geographic fit and 2) enhancement of proposal to customers by
combining the Acquired Business’s drives with Nidec’s existing
products.
We believe that the Transaction will accelerate
the Company’s growth by integrating significant technological
capabilities, strong brands and excellent customer bases of both
Nidec and the Acquired Business, and contribute towards achieving
its mid-term growth strategy target of two trillion yen in sales in
fiscal year ending March 2021.
3. Effect on Financial Performance of the Current Fiscal
Year
Once we determine the impact of the Transaction
on our financial performance for the current fiscal year, we will
make appropriate disclosure pursuant to the rules of the Tokyo
Stock Exchange, and announce any changes to our forecasts as
required thereunder.
Cautionary Statement Concerning
Forward-Looking Information
This press release contains forward-looking
statements regarding the intent, belief, strategy, plans or
expectations of the Nidec Group or other parties. Such
forward-looking statements are not guarantees of future performance
or events and involve risks and uncertainties. Actual results may
differ materially from those described in such forward-looking
statements as a result of various factors, including, but not
limited to, the risks to successfully integrating the acquired
business with the Nidec Group, the anticipated benefits of the
Transaction not being realized, changes in general economic
conditions, shifts in technology or user preferences for particular
technologies and changes in business and regulatory environments.
The Nidec Group does not undertake any obligation to update the
forward-looking statements contained herein or the reasons why
actual results could differ from those projected in the
forward-looking statements except as may be required by law.
Contact:
Masahiro Nagayasu
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com