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TheStreet Open House

Nidec Completes Acquisition Of Emerson Electric Co.'s Motors & Controls Business And Announces Outline Of Its New Subsidiaries

KYOTO, Japan, Sept. 30, 2010 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) ("Nidec" or "we") today announced that it completed the acquisition of the Motors & Controls business of Emerson Electric Co. (the "Acquired Business") on October 1, 2010 (September 30, 2010, U.S. time). As a result, the Acquired Business, now consisting of the foreign companies listed below, became Nidec's subsidiaries.

In this connection, Nidec also announced the establishment of NIDEC MOTOR HOLDINGS CORPORATION, which is expected to become the holding company of the new subsidiaries, as discussed below.

The following is an outline of the companies that became Nidec's new subsidiaries today:

1. Outline of the New Subsidiaries

       Company Names

  • Japan: NIDEC MOTOR HOLDINGS CORPORATION
  • USA:NIDEC MOTOR CORPORATION
  • Canada:NIDEC MOTOR CANADA CORPORATION
  • Mexico:Compania de Motores Domesticos, S.A. de C.V. *
  • Mexico:Controles Electromecanicos de Mexico S.A. de C.V. *
  • Mexico:Emerson Laminaciones de Acero de Monterrey, S.A. de C.V. *
  • Mexico:Motores U.S. de Mexico, S.A. de C.V. *
  • Mexico:U.S.E.M. de Mexico S.A. de C.V. (subsidiary of Motores U.S. de Mexico S.A. de C.V.)*
  • Mexico: Motores Reynosa, S.A. de C.V. *
  • Mexico:Rotores S.A. de C.V. *
  • UK:SR Drives Manufacturing Limited *
  • UK:Switched Reluctance Drives Limited *
  • UK:Reluctance Motor Limited (subsidiary of Switched Reluctance Drives Limited)*

* Company name expected to be changed after the closing of the transaction.

Capital Structure

We have made the group of companies listed above our direct wholly owned subsidiaries. However, we own 99.99% of each of the Mexican subsidiaries, and the remaining 0.01% (1 share) will be owned by the U.S. subsidiary, as the local law requires the subsidiaries to be held by at least two shareholders.

In the future, we expect to transfer the group of foreign subsidiaries listed above under NIDEC MOTOR HOLDINGS CORPORATION. We plan to make an announcement once the timing and other details of this transaction are determined.

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