Nidec completed its acquisition of Whirlpool Corporation’s Compressor Business for $1.1bn.

Nidec, a Japanese manufacturer of electric motors, completed its acquisition of the compressor business of Whirlpool Corporation, an American multinational manufacturer and marketer of home appliances, for $1.1bn. “We are proud of our strong portfolio of global consumer brands. Since Embraco operates in the business-to-business space, this transaction enhances our strategic focus on investing in and growing our consumer-facing business. The planned tender offer further demonstrates our commitment to returning capital to shareholders, consistent with our balanced capital allocation strategy,” Marc Bitzer, Whirlpool Corporation chief executive officer.