Whirlpool confirms Embraco sale24th 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.
The Cooling Post revealed this morning that Japanese electric motor manufacturer was to acquire the Embraco business for $1.08bn.
“Nidec has been a trusted supplier for decades, and we look forward to building on that relationship in the future,” said João Carlos Brega, president of Whirlpool Latin America. “Embraco will continue to be a highly-valued supplier to Whirlpool, and we expect Embraco’s customers and employees to thrive under Nidec’s ownership in the future.”
The US company confirmed that Embraco’s Italian plant is not included in the deal: “As previously announced, Whirlpool expects to cease operations and end production at Embraco’s Italy facility, which is subject to a separate agreement with local authorities and unions. Therefore, the Embraco Italy facility is not included in the sale to Nidec Corporation.
Headquartered in Brazil, Embraco has been a Whirlpool majority-owned business since 1997. The business has a workforce of approximately 11,000 employees across eight global manufacturing facilities located in Brazil, Italy, China, Slovakia and Mexico. Embraco also maintains commercial offices in the United States and Russia.
Nidec to acquire Embraco – 24 April 2018
JAPAN: Nidec, the Japanese manufacturer of electric motors, is to increase its expansion into the refrigeration market with the acquisition of compressor company Embraco. Read more…