Nidec will acquire the Motors & Controls business of Emerson Electric and entered into an asset and stock purchase agreement with Emerson.

EMC has a number of development, production and sales centers mainly in the United States and in other areas, including Mexico, People's Republic of China and the United Kingdom. EMC's strong U.S. foothold, combined with our existing operations centering in Asia and Europe, will enable the Nidec Group to operate in all the world's key geographical locations and better address the need of rapidly globalizing customers.

In January 2010, we acquired Sole Motors (currently, Nidec Sole Motor Corporation S.R.L.) and have strived to strengthen our home appliance motor business in Europe. Through the acquisition of EMC, which has a strong presence in the home appliance motor business in North America, we intend to scale up our home appliance motor business with a renewed focus on research and development, manufacturing and sales activities.

 

We believe that EMC's large industrial motors, medium-size central air conditioning motors, related motion control technologies and the developing main motors for electric vehicle and hybrid electric vehicle, will not only expand our current product portfolio, but also contribute to further stabilizing volatility in our profitability. We seek to accelerate operational growth by effectively blending Nidec's industry-leading brushless motor technologies with EMC's time-proven brand strength and excellent customer base.