Sale of Commercial and Industrial Motors and Appliance Motors and Controls Businesses to Nidec Corp.
Baird served as the exclusive financial advisor to Emerson Electric Co.
AboutEmerson Electric Co. ("Emerson") (NYSE:EMR) recently completed the sale of its Commercial and Industrial Motors (“CIM”) and Appliance Motors and Controls (“AMC”) businesses to Nidec Corporation (“Nidec”) (TSE:6594 / NYSE:NJ). Terms of the transaction were not disclosed.
CIM is a leading industrial motor manufacturer featuring a full line of high efficiency and variable-speed motors. CIM’s broad offering of large and small motors serves residential and commercial markets in applications ranging from water treatment, mining, oil & gas and power generation to air conditioning condensers, rooftop cooling towers and commercial refrigeration. AMC is the largest supplier of appliance motors in the US. AMC’s motors, motor controls, timers and machine controls are critical components found in clothes washers and dryers, dishwashers and refrigerators made by leading manufacturers. AMC also makes motors, controls and switches for automotive and commercial markets. Both businesses operate manufacturing facilities and technology centers in the US, Mexico, China, India and the UK. CIM and AMC employ approximately 6,000 people worldwide and accounted for more than $800 million in sales in fiscal 2009.
Emerson, based in St. Louis, Missouri, USA, is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial and consumer markets through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses. Sales in fiscal 2009 were $20.9 billion. Emerson is traded on the NYSE.
Nidec, based in Kyoto, Japan, is the world's leading manufacturer of small precision motors, including motors used in hard disk drives and optical disk drives. The Company has extended its focus beyond the information storage motor market to the home appliance and automotive markets. Sales in fiscal 2010 were ¥587.5 billion. Nidec is traded on the TSE and NYSE.
For additional information about this transaction, please contact:
- September 2010
- Emerson Electric Co.
- Target Location
- Acquiror Location