Nidec Buys German Firm to Bolster Industrial Robot Parts Biz

Economy

Kyoto, Sept. 4 (Jiji Press)--Japanese motor maker Nidec Corp. <6594> has acquired all outstanding shares in German industrial robot parts manufacturer MS-Graessner GmbH and its group companies.

The transaction was carried out on Friday through Nidec-Shimpo Corp., a Nidec unit based in Nagaokakyo, Kyoto Prefecture, according to the company's announcement on Monday.

The total purchase price is estimated at some 5 billion yen, informed sources said.

Through the buyout, Nidec hopes to beef up its operations related to industrial robots, for which demand is expected to grow, and build sales channels in the European market.

END

[Copyright The Jiji Press, Ltd.]

Jiji Press