Nidec Corp. said Wednesday it will buy the motor business of U.S. electronics giant Emerson Electric Co. in a bid to further boost its global operations in automotive, home appliance and industrial motors.
The Kyoto-based precision maker said it is scheduled to complete its buyout by the end of September, but did not disclose the price of the deal.
Given the growing global demand for motors in home appliances, vehicles and other sectors, Nidec said it aims to tap into the strength of Emerson Electric, which has a strong base particularly in the United States, to boost development, production and sales of its home appliance motor business.