Nidec Corporation announced that it acquired a 100% ownership interest in Cima, Italian commercial motor manufacturer. As a result of the transaction, Cima became a consolidated subsidiary of Nidec. In line with its continuing initiative to create an optimal business mix, Nidec is actively moving forward with the development of new growth platforms with particular emphasis on appliance, commercial and industrial motors and solutions. Commercial equipment and products have been and will continue to be an important impetus in keeping the initiative on course. Since the acquisition of Kinetek Group and its subsidiaries, including FIR Elettromeccanica, in November 2012, the company has added to its product portfolio a new range of pumps and motors for commercial kitchen equipment used for food-service operations including restaurants and canteens (e.g. dishwashers, convection ovens), motors for construction equipment (e.g. cable hoists, ladder hoists, lifts) and pumps, primarily targeted at the European market. In order to strengthen its commercial motor business in Europe, the company, setting FIR as a core business platform in Europe, acquired the business of E.M.G. Elettromeccanica in September 2015, E.C.E. in May 2016 and LGB Elettropompe in July 2017. The main products of Cima are motors used for ventilations and fans for agricultural and industrial purposes. Since there is no overlap between the products of FIR and those of Cima, the transaction helps FIR expand its product portfolio. In addition, utilizing FIR’s supply chain and facilities, Cima will improve its profitability by generating both procurement and cost reduction synergies.
