KYOTO, Japan, June 22, 2008 (PRIME NEWSWIRE) -- Nidec Corporation ("Nidec")
(NYSE:NJ) today announced that Nidec (Dalian) Limited, one of its wholly owned
subsidiaries, has completed the purchase of Valeo S.A.'s automotive motor
manufacturing subsidiary (the "Motor Company") based in Shanghai, China.
In December 2006 Nidec acquired Valeo S.A.'s "Motors and Actuators" business
(now Nidec Motors and Actuators, or NMA). At that time, Nidec and Valeo had also
agreed on the purchase and sale of the Motor Company in Shanghai jointly owned
by Valeo International Holding B.V. and Shanghai SIIC Transportation Electric
Co., Ltd, on the premise that Nidec would acquire 100% shares of the Motor
Company. Recently, Nidec and Shanghai SIIC Transportation Electric Co., Ltd.
reached an agreement by which Shanghai SIIC Transportation Electric Co., Ltd.
transfers all its shares in the Motor Company to Nidec (Dalian) Limited. As a
result, the Motor Company has become a wholly-owned subsidiary of Nidec (Dalian)
Limited.
The Motor Company has been operative under the name "Nidec Shanghai Automotive
Electric Motors Limited" since April 29, 2008.
Profile of the Motor Company in Shanghai
Company Name: Nidec Shanghai Automotive Electric
Motors Limited
Company Address: 2281 Jianchuan Road, Minhang 200245,
Shanghai, China
Products: DC brush motor for the window lift
system and anti-lock braking system
Annual Production Capacity: 1.5 million units
Projected Annual Sales: 2 billion yen
Prospect of Nidec's Automotive Motor Business in Asia
Nidec is currently producing brushless motors for the power steering system at
Nidec Automobile Motor (Zhejiang) Corporation in Zhejiang, China. Nidec is also
in the process of establishing mass production capability for brush motors for
automotive applications (including seat-adjusters) at Nidec (Dalian) Limited in
Dalian, China. The incorporation of Nidec Shanghai Automotive Electric Motors
Limited into Nidec (Dalian) Limited as its 100% subsidiary is expected to
enhance Nidec's production capability in China and largely contribute to Nidec's
manufacturing and sales activities the Asian markets.
The Nidec Corporation logo is available at
http://www.primenewswire.com/newsroom/prs/?pkgid=1734
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CONTACT: Nidec Corporation
Investor Relations
Masahiro Nagayasu, General Manager
+81-75-935-6140
ir@jp.nidec.com
