Weekly newsletter  

Issue # 24/2023 07/11/2023

We are pleased to announce the inauguration of our new customer-focused center in Chennai, which was officially opened by Michael Briggs, President of Nidec Motion and Energy. This marks a significant milestone for Control Techniques in our commitment to providing exceptional support and solutions to our customers in the APeC region. 🎉 

This facility is equipped with advanced technology and a dedicated team that is focused on meeting our customers' needs. Our ultimate goal is to exceed their expectations and deliver outstanding experiences by adopting a customer-centric approach. 

At this center, we are dedicated to promptly addressing customer concerns and resolving any challenges they may face. We appreciate the presence and support of David Molnar and Vineel Mallela during the inauguration event. 

Our recent Sales Conference in North Europe, UK, and Ireland was a great success! Our teams collaborated to establish connections, share insights, and stay informed about company updates.🤝 


We firmly believe that this event has further equipped our teams to achieve their goals this year. We're excited to see what they'll accomplish next!


#DriveObsessed #ControlTechniques #Nidec #teamwork #salesconference 

We are excited to announce our successful completion of the acquisition of Houma Armature Works, a leading US-based provider of motor and generator repairs and field services. 

This milestone represents another significant step forward in our global expansion and dedication to delivering excellent products and services to our customers. 

We warmly welcome the Houma Armature Works team into the Nidec family. 

Find out more about this acquisition: https://lnkd.in/gtG-EZqR

#Nidec #Acquisition #Innovation #generators #motors 

As you are aware, we are committed to providing continuous training and development opportunities for our customers and distributors.

 Last week, we had the pleasure of hosting Moeltek for a comprehensive commercial training session with their entire sales and technical team. We would like to express our gratitude for their participation and dedication.


If you wish to participate in or organize a training for your company, please get in touch with your respective ASM (Area Sales Manager).

#DriveObsessed

Dear Channel Partner,

 EFFECTIVE AUGUST 1ST, 2023, select product prices will be updated and orders received on or after this date will be subject to new pricing.

 

The key updates to the file are:

 

 

 

 


Nidec Completes Acquisition of Houma Armature Works, a US-based Motor and Generator Service Provider

JUL 04, 2023
Nidec Completes Acquisition of Houma Armature Works

a US-based Motor and Generator Service Provider

 

Kyoto, Japan - July 4, 2023 - Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) today announced that it has acquired full ownership of TAR, LLC d/b/a Houma Armature Works, a privately owned US company (“Houma”), from its founding family, through the Company’s subsidiary, Nidec Motor Corporation (“NMC”), on July 3, 2023 (the “Transaction”). As a result of the Transaction, Houma became a consolidated subsidiary of Nidec, as outlined below:

1.     Outline of the New Subsidiary

(1) Company Name

TAR, LLC d/b/a Houma Armature Works


(2) Headquarters

Houma, Louisiana, United States


(3) Foundation

1972


(4) Business Leader

Corey Hansen, VP Service/Aftermarket Electric Power Generation Americas

Roy Corbitt, The general Manager, Houma


(5) Business bases

Manufacturing and services bases: Houma, Louisiana | Houston, Texas


(6) Principal business

Manufacturing, repair, maintenance, upgrades, and installation services for motors, generators, and control systems


(7) Number of employees

94


(8) Sales

The fiscal year ended December 31, 2022

 31.4 million USD
(approximately 4.13 billion yen)

2.     Houma’s Strengths
Houma is a service partner which remanufactures motors and generators and provides field service to oil and gas producers, operating out of Louisiana and Texas. The end-users they service work are on- and off-shore drilling, marine and wind renewable energy power generator manufacturers, including Kato Engineering, Leroy-Somer, and US Motors, all of which are under the Nidec umbrella. In addition to providing high quality services for various motor manufacturers, Houma has bases near the most active oil and gas extraction areas in United States and Mexico and offers speedy services to many of the largest oil and gas producers.

3.     Purpose of Transaction and Future Operation Policy
NMC has endeavored to position itself as a major player in the North American generator space by not only designing and selling competitive products, but by also continuously improving its strong service offering. The acquisition of Houma is part of NMC’s strategy to be competitive in both product and aftermarket spaces to accelerate profitable growth. Through this acquisition, NMC will be able to enhance its service offering, including expanding its share within its own U.S. installed base, and Houma will be able to provide services to NMC’s customers.

4 . Effect on Financial Performance for the Current and Next Fiscal Year
The transaction is expected to have no significant impact on the Company’s consolidated financial performance for this fiscal year ending March 31, 2024. If necessary, the Company will make additional disclosure on a timely basis in accordance with the rules of the Tokyo Stock Exchange upon determination of further details.


About Nidec Corporation and Nidec Motor Corporation

Nidec Corporation is the world's leading comprehensive electric motor manufacturer. Based in Kyoto, Japan, Nidec Corporation offers motors ranging from micro-size to super large, as well as application products and services in IT, automation, home appliances, automobiles, commercial and industrial systems, environmental, energy, and many other businesses. Nidec is composed of approximately 340 group companies employing more than 100,000 people all over the world.

With headquarters in St. Louis, MO, Nidec Motor Corporation (NMC) is the leading manufacturer of commercial, industrial, and appliance motors and controls. The NMC product line features a full line of high efficiency motors, large and small, that serve industrial, residential, and commercial markets in applications ranging from agriculture, water treatment, mining, oil and gas, and power generation to pool and spa motors, air conditioning condensers, rooftop cooling towers, and commercial refrigeration. Leroy-Somer Electric Power Generation (EPG) is one of several businesses and brands under NMC.

Cautionary Statement Concerning Forward-Looking Information

This press release contains forward-looking statements regarding the intent, belief, strategy, plans or expectations of the Nidec Group or other parties. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors, including, but not limited to, the risks to successfully integrating the acquired business with the Nidec Group, the anticipated benefits of the planned transaction not being realized, changes in general economic conditions, shifts in technology or user preferences for particular technologies, whether and when required regulatory approvals are obtained, other risks relating to the successful consummation of the planned transaction, and changes in business and regulatory environments. The Nidec Group does not undertake any obligation to update the forward-looking statements contained herein or the reasons why actual results could differ from those projected in the forward-looking statements except as may be required by law.


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