This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
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.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs