World News

Nidec cleared to re-acquire Secop compressor line

EUROPE: Nidec, the Japanese electric motor company, has been cleared by the European Commission to re-acquire Secop’s Delta hermetic refrigeration compressor production line. 

Nidec acquired Secop for €185m in 2017 but was forced to sell the refrigeration compressor company last year as part of the conditions imposed by the European Commission in its acquisition of compressor manufacturer Embraco.

When Secop’s new owners announced in October that it would close its domestic refrigeration compressor line in Fürstenfeld, Austria, Nidec stepped in.

The European Commission has now agreed to to waive the non-re-acquisition clause of the commitments with regard to the Delta line after carrying out a market investigation.

In a statement the Commission said: “The Commission’s investigation revealed that the structure of the relevant markets for variable speed and fixed speed refrigeration compressors for household applications has changed to such an extent that the absence of influence over the concerned part of the divestment business is no longer necessary to render Nidec’s acquisition of Embraco compatible with the internal market.”

Related stories:

Nidec to acquire Secop’s Delta compressor line1 April 2020
JAPAN: Japanese electric motor company Nidec is to acquire Secop’s Delta hermetic refrigeration compressor production line, part of the business it was forced to sell last year. Read more…

Nidec to sell Secop compressor business – 23 April 2019
JAPAN: Nidec will sell its Secop compressor business to private equity funds ESSVP IV LP, ESSVP IV (Structured) LP and Silenos GmbH & Co KG. Read more…

EC clears Embraco deal but Nidec must sell refrigeration business – 12 April 2019
EUROPE: The acquisition of compressor manufacturer Embraco by Japanese company Nidec has been approved by the European Commission, but Nidec must sell its domestic and light commercial refrigeration compressor business. Read more…

Whirlpool confirms Embraco sale – 24 April 2018
USA: Whirlpool has confirmed its intention to sell the Embraco compressor business to the Japanese Nidec Corporation, with the transaction expected to close in early 2019. Read more…

Whirlpool confirms Embraco sale – 24 April 2018
USA: Whirlpool has confirmed its intention to sell the Embraco compressor business to the Japanese Nidec Corporation, with the transaction expected to close in early 2019. Read more…

Nidec completes Secop purchase – 1 August 2017
JAPAN/GERMANY:  Nidec is to expand further into the refrigeration market following the completion of its acquisition of German hermetic compressor manufacturer Secop. Read more…

Nidec to acquire Secop for €185m – 25 April 2017
JAPAN/GERMANY: Japanese electric motor company Nidec is set to acquire hermetic compressor manufacturer Secop for €185m. Read more…

Related Articles

Back to top button
Close