Nidec Completes the Acquisition of the Shares of Italian Machine Tool Manufacturer PAMA and Its Affiliates
Accordingly, PAMA will become a wholly owned subsidiary of the Company as outlined below together with Nidec’s business strategy going forward.
1. Outline of the New Subsidiary
(1) |
Company name |
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(2) |
Head quarter |
The city of Rovereto, |
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(3) |
Foundation |
1926 |
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(4) |
New management |
Director & Chairperson:
Director & General Manager:
Director: |
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(5) |
Business bases |
Manufacturing and sales bases:
Sales bases: The US, |
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(6) |
Affiliates |
Nine companies in |
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(7) |
Principal businesses |
Manufacturing and sale of machine tools (boring and milling machines and machining centers, among others) |
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(8) |
Number of employees |
Approximately 430 |
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(9) |
Sales |
Forecast as of the end of the fiscal year ended |
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2. PAMA’s Strengths
A company, PAMA, with a broad product portfolio and high technological capabilities in the fields of 5-face milling machine, boring and milling machines, and large machine tools, boasts the world’s largest market share as a boring and milling machine manufacturer, whose end users include major press machine, construction equipment, heavy machine for energy, earthmoving machine, shipbuilding and aerospace aircraft manufacturers. In addition, PAMA enjoys stable annual sales in
3. Creating Synergies with the
PAMA’s joining the
(1) expanding sales in the Asian, European and American markets based on a wide range of product lineup and cross selling;
(2) developing new products and components by combining the three companies’ technological expertise; and
(3) reducing lead time for delivery and manufacturing cost based on a global production optimization in
4. What Nidec Aims to Accomplish with Its Machine Tool Business
The annual sales of Nidec Machine Tool, Nidec OKK, and PAMA combined are approximately
5. Effects on Financial Performance for the Current and Next Fiscal Years
The Stock Acquisition is expected to have no significant impact on the Company’s consolidated financial performance for this fiscal year ending
Cautionary Statement Concerning Forward-Looking Information
This press release contains forward-looking statements regarding the intent, belief, strategy, plans or expectations of the
View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005454/en/
General Manager
Investor Relations
+81-75-935-6140
ir@nidec.com
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