Japan's Nidec, the world's largest disk-drive motor maker, said on August 18 that it will buy the motor and appliance-controls business of U.S. technology giant Emerson.
The companies did not disclose financial details of the deal, which the Nikkei newspaper said was worth 60-70 billion yen (US$700-820 million.)
The move should expand Nidec's product range to large industrial motors as well as medium-size ones for appliances, according to separate statements from the firms.
The transaction will be completed by the end of September, said Nidec, the world's leading manufacturer of small precision motors used in computers.
Emerson said that Nidec will keep the existing facilities and current management and some 6,000 employees of the unit.
Kyoto-based Nidec has been expanding its global operations by buying foreign companies.
Copyright Agence France-Presse, 2010
About the Author
Agence France-Presse
Copyright Agence France-Presse, 2002-2025. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.