Japanse Nidec koopt voor US$1,200 million Control Techniques en Leroy-Somer van Emerson.


NidecMasahiro Nagayasu general manager Nidec Corporation announced today that its Board of Directors has approved a resolution to acquire 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.

1. Purpose of the Transaction
Nidec has been actively developing a new growth platform with particular focus on industrial and commercial business. As part of this strategy, the Company has pursued acquisitions of strategic businesses that enhance its new growth platform. In February 2010, Nidec acquired 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 the Company also acquired Avtron Industrial Automation, Inc.1, a manufacturer of industrial nidec 5encoders, and Kinetek Group Inc.2, a manufacturer of commercial motors. Through these acquisition initiatives, Nidec has gained extensive geographic reach and product lineups which complement the Company’s existing operations, essential in increasing the breadth and depth of its industrial and commercial business. In line with this strategy, the Transaction 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.

nidec 2The Business has a strong brand, solid business foundation and excellent customer base, particularly in Europe and North America. The Business has experienced a cyclical decline in recent performance as a result of the significant drop in oil prices and weak macro-economic conditions; however, Nidec expects the Business to grow as the cycle recovers and as synergies are realized in the mid- to long-term perspective. Expected synergies include:

(1) Complimentary product fit with full lineup in industrial products and geographic fit

• The Transaction helps combine Nidec’s current NEMA3-based (primarily North American market) industrial design platform with Emerson’s IEC4 platform, providing cross-selling opportunities in all world regions.

• Nidec’s strength in medium-voltage generators with power output of 10 megawatts and above, combined with the Business’ offering of low- and medium-voltage generators with a capacity of below 10 megawatts, significant brand name, and market presence, will enable Nidec to better serve customers’ needs.

• The Transaction provides Nidec with access to the Business’s solid customer base in Europe and North America, the regional markets where Nidec is much less recognized as an industrial motor and electric power nedic 3generation brand. Nidec also expects the Transaction will contribute to increasing its market presence in Asia.

(2) Enhancement of proposal to customers by combining the Business’ drives with Nidec’s existing products

• The Transaction combines Nidec’s medium-voltage drives (motor controls) and the Business’ low-voltage drives, industry-leading technologies and product lines, enhancing Nidec’s product lineups and competitive position.

• The Business’ drives product line primarily targets the factory automation and machine control markets where Nidec still has plenty of room for improving its presence. In the meantime, Nidec has a strong foothold in the HVAC and flow-control pump markets in North America, where the Business’ products do not currently have a meaningful presence. The combination will allow Nidec to sell these products as a package in conjunction with motor products into all key market spaces.

• The Business includes state-of-the-art technology for elevator drives, allowing Nidec to pursue the opportunity to sell Nidec’s existing elevator motors and the Business’ drives as a package. Going forward, the Company will continue to develop integrated elevator motor and drive packages.

• In the European and Chinese markets, Nidec expects synergies in the sale of the Business’ wind generation (blade) pitch controller application and Nidec’s encoders and motors as an integrated module.

Furthermore, Nidec plans to continue to expand its business into the market for new-generation motion control, automated guided vehicle (AGV), and robotics, taking advantage of the Business’ full range of servo motors and gears.

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 Business, and contribute towards achieving its mid-term growth strategy target of two trillion yen in sales.



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