Nidec successfully completes SECOP acquisition

On 26 April 2017, Japan’s Nidec agreed to acquire German compressor manufacturer SECOP. The acquisition was completed successfully on 31 July and announced yesterday. The transaction sees SECOP and its subsidiaries became Nidec’s subsidiaries, with the latter entering the refrigeration market for compressors.

SECOP has been incorporated into Nidec’s Global Appliance Division, which will take full responsibility for the new business. The division will gain three production sites and two R&D centres, located in Germany, Slovakia, China and Austria.

Nidec created its Global Appliance Division to develop a new growth platform focusing on the appliance, industrial and commercial business, and to capitalise on growing market demand for variable speed compressors in the refrigeration sector.

The division will be led by Valter Taranzano. It boasts three factories in Europe, one in China and one in Mexico. Previously it had mainly focused on the manufacturing and sales of motors for wet appliances such as washing machines, dryers and dishwashers.

For more details about the planned new company names, the capital structure, and the planned new directors, please see Nidec’s news release.