Nidec completes Secop purchase
JAPAN/GERMANY: Nidec is to expand further into the refrigeration market following the completion of its acquisition of German hermetic compressor manufacturer Secop.
A leading electric motor manufacturer, Japanese manufacturer Nidec sees the acquisition of Secop as a part of a global strategy of pursuing strategic acquisitions in the appliance industry. It will become part of Nidec’s Global Appliance Division, which mainly focuses on the production and sales of motors for wet appliances such as washing machines, dryers and dishwashers.
Formerly Danfoss Compressors GmbH, it was renamed Secop when it was acquired by German industrial holdings company Aurelius in 2010. Secop subsequently acquired ACC Austria GmbH in 2014 and remains a leader in the European market for domestic and light commercial hermetic compressors.
Secop’s acquisition will boost Nidec’s sales by around $400m and add three production sites as well as two R&D centres, located in Germany, Slovakia, China and Austria.
Nidec believes that its leading position for brushless DC motor technology allied to the increasing market demand for variable speed compressors will give it a competitive advantage.
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…