Nidec Corp. said March 5 that a subsidiary will acquire all outstanding shares of Minster Machine Co., a leading U.S. manufacturer of press machines with an operating history of over 110 years.
The subsidiary, Nidec Shimpo Corp., is a leading manufacturer of precision speed reducers.
The transaction is expected to be completed in early April. No financial details were available.
In July 2011, Nidec Corp. transferred its ownership interest in Nidec-Kyori Corp., a manufacturer of press machines, to Nidec Shimpo, making it a wholly owned subsidiary.
Following the acquisition of Minster, Nidec Shimpo aims to increase sales by selling
Minster’s large-sized press machines through the group's sales channels in Asia and by selling Nidec-Kyori’s small-sized high speed precision press machines through Minster’s sales channels in North and South America and Europe.
Nidec Shimpo also plans to expand product offerings by combining Nidec-Kyori’s small-sized high speed precision press technology and Minster’s large-sized high rigidity precision press technology. They will also share manufacturing facilities and equipment, Nidec said.
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