Nidec to acquire Mitsubishi Heavy Industries Machine Tool for $285m.

Nidec, a Japanese motor maker, agreed to acquire Mitsubishi Heavy Industries Machine Tool, a manufacturer of heavy machinery tools, for $285m. The acquisition of machine tool business achieves a mutual complement with our existing businesses. After this acquisition is completed, Nidec has a view of further expansion of machine tool business with Mitsubishi Heavy Industries Machine Tool, and believes that, with necessary investment, the business will be able to play a major global role in our group. It is our intention to mutually leverage the Nidec Group’s and Mitsubishi Heavy Industries Machine Tool’s respective technological capabilities, brand strength, and customer bases, to contribute to the further development of the global machine tool market.