Nidec to acquire PAMA for €118.3m.

Nidec, a manufacturer and distributor of electric motors, agreed to acquire PAMA, a machine tool manufacturer, for €118.3m. Nidec Machine Tool Corporation and Nidec OKK Corporation, whose main products are gear cutting machines, large machine tools and machining centers, have been in need of further developing the multitasking and 5-axis machining technology as well as expanding its lineup of boring and milling machines in the large machine tools space. Also, both companies’ main sales area has been in Japan and, compared with other major Japanese machine tool manufacturers, both companies have generated less sales from overseas markets such as European and American markets and Chinese market, where the future growth is expected.