Nidec Completes Acquisition Of Automatic Feed Company And Related 2 Companies, Us-Based Press Machine Equipment Manufacturers

Aug 02, 2023•about 2 years ago

Acquiring Company

Nidec Scroll Technology (Changzhou) Ltd

Acquired Company

Automatic Feed

KyotoAppliances, Electrical, and Electronics Manufacturing

Description

Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) today announced that the Company has acquired full ownership of Automatic Feed Company, Lasercoil Technologies LLC, and Automatic Leasing Company, privately-owned US companies (collectively the “Target”), from its founding family on August 1, 2023 (the “Transaction”). As a result of the Transaction, the Target became a consolidated subsidiary of Nidec, as outlined below:

Company Information

Company

Nidec Scroll Technology (Changzhou) Ltd

Location

Kyoto, Kyoto Prefecture, Japan

About

Nidec Scroll Technology, formerly Changzhou Xecom Energy Technologies Co., Ltd., specializes in designing and producing high-performance scroll compressors for air conditioning and refrigeration. Established in 2021, it aims to meet the growing demands in the cooling market. The company has around 75 employees and reported net sales of approximately 17 million USD in 2024. Its products are crucial for efficient HVAC systems.

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