Japanese electric motor company Nidec has completed the acquisition of Brazilian compressor manufacturer Embraco from Whirlpool Corporation.
Nidec entered into a stock purchase agreement with Whirlpool in April last year and completed the transaction after receiving the approval of relevant antitrust authorities.
Nidec recently announced it was to sell the Secop compressor business it bought in 2017 to ESSVP as a condition for the European Commission's approval of the Embraco deal, which Nidec believes will allow further expansion into the global refrigeration compressor market.
Embraco and its subsidiaries in Brazil, Mexico, the US, Russia, Slovakia and Italy, are now part of Nidec Global Appliance.
Nidec completes Embraco deal
Published: 02 July 2019