Nidec Completes Acquisition of Secop Group (Secop Holding GmbH and Other 3 Entities), a German Compressor Manufacturer
01 Août 2017 - 1:30AM
Nidec Corporation (TSE:6594) (OTC US:NJDCY) (the “Company” or
“Nidec”) announced today that the Company completed the acquisition
of 100% equity shares of Secop Holding GmbH, Secop s.r.o., Secop
Compressors (Tianjin) Co., Ltd. and Secop Inc. (collectively
“Secop”), and shareholder loans from Secop Beteillingungs GmbH, a
portfolio management company owned by AURELIUS Equity Opportunities
SE & Co KGaA (“Aurelius”) (the “Transaction”) on July 31,
2017.
As a result of the Transaction, Secop and their
subsidiaries became Nidec’s subsidiaries. The details of the main
acquired companies are as follows:
1. Outline of the Main Acquired Companies
1) Change of Company Names
Locations |
Current Company Names |
Planned New Company Names |
Flensburg, Germany |
Secop Holding GmbH |
Nidec Global Appliance Compressors GmbH |
Flensburg, Germany |
Secop GmbH |
Nidec Global Appliance Germany GmbH |
Zlatè Moravce, Slovakia |
Secop s.r.o. |
Nidec Global Appliance Slovakia s.r.o. |
Tianjin, China |
Secop Compressors (Tianjin) Co., Ltd. |
Nidec Global Appliance Tianjin Co., Ltd. |
Roswell, Georgia, USA |
Secop Inc. |
Nidec Global Appliance USA Inc. |
Fuerstenfeld, Austria |
Secop Austria GmbH |
Nidec Global Appliance Austria GmbH |
2) Capital Structure
http://www.globenewswire.com/NewsRoom/AttachmentNg/64c4d788-35b3-4e8d-9326-6eaa391950a7
3) New Directors
Planned New Company Name |
Planned New Directors |
Nidec Global Appliance Compressors GmbH |
Director and CEO: Valter TaranzanoDirector: Katia Drusian |
Nidec Global Appliance Germany GmbH |
Director and CEO: Valter TaranzanoDirector and CEO: Mogens Søholm
BennetsenDirector: Katia DrusianDirector: Udo Gerhard Heskamp |
Nidec Global Appliance Slovakia s.r.o. |
Director: Valter TaranzanoDirector: Alberto Gentile |
Nidec Global Appliance Tianjin Co., Ltd. |
Director and Chairman: Liu ShujingDirector: Mogens Søholm
BennetsenDirector: Valter TaranzanoDirector: Wang FuliSupervisor:
Lu LingSupervisor: Udo Gerhard Heskamp Supervisor: Katia
Drusian |
Nidec Global Appliance USA Inc. |
Director: Udo Gerhard Heskamp Director: Katia Drusian |
Nidec Global Appliance Austria GmbH |
Director: Alberto GentileDirector: Rudolf MirthDirector: Astrid
Rois |
2. Purpose of the Transaction and Future Operation
Policy
Nidec has been actively developing a new growth
platform with particular focus on appliance, industrial and
commercial business. As part of this strategy, the Company is
pursuing strategic acquisitions in the appliance industry. For this
purpose, Nidec has created a new division named Nidec Global
Appliance Division, which consists of Nidec Sole Motor Corporation
S.R.L. (formerly, the household motor business of Appliances
Components Companies S.p.A. acquired in January 2010), the
appliance business of Nidec Motor Corporation (formerly, the motor
and control business of Emerson Electric Co. acquired in September
2010) and Nidec Motor Corporation Romania (formerly, ANA IMEP S.A.
acquired in May 2016). Nidec Global Appliance Division has three
factories in Europe, one in China and one in Mexico, mainly
focusing on the manufacturing and sales of motors for wet
appliances such as washing machines, dryers and
dishwashers.
Secop’s strength lies in industry-leading
compressors for household and commercial refrigerators. Through the
Transaction, the Company has added compressors to its product
portfolio, which allows the Company to expand further into the
global refrigeration market.
The Company believes that the Transaction will
bring Nidec Group closer to its FY2020 sales target of two trillion
yen as both parties’ technological capabilities, brands, and
customer bases come to blend well together.
3. Effect on Financial Performance for the Current Fiscal
Year
Once the Company determines the impact of the
Transaction on its financial performance for the current fiscal
year, it will make appropriate disclosure pursuant to the rules of
the Tokyo Stock Exchange, and announce any changes to its forecasts
as required thereunder.
Cautionary Statement Concerning
Forward-Looking InformationThis 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