KYOTO, Japan (Feb. 2, 2015) – Nidec Corporation has completed the acquisition of all of the shares in Gerate- und Pumpenbau GmbH Dr. Eugen Schmidt ("GPM") from its shareholders, through its subsidiary, Nidec Motors & Actuators (Germany) GmbH (NMA(G)), on Feb. 2, 2015. As a result of the transaction, GPM became a consolidated subsidiary of Nidec. The new subsidiaries are listed below.
Germany: NIDEC GPM GmbH
Brazil: NIDEC GPM do Brasil Automotiva Ltda.
China: NIDEC GPM Automotive Pumps (Suzhou) Co. Ltd.
U.S.: NIDEC GPM North America Corporation
NIDEC GPM GmbH’s headquarters will be in Merbelsrod, Thuringia, Germany. The director and CEO is Olav Schulte; Bunsei Kure is representative director, executive vice president; Kazuya Hayafune is director and first senior vice president; and Ales Starek and Michael Grellmann are directors.
The principal locations of operations will be Merbelsrod, Thuringia, Germany; Indaiatuba, state of Sao Paulo, Brazil; Suzhou, Jiangsu Province, China; and Troy, Michigan.
Under the current global trend to strengthen the regulation of CO2 emissions, automotive OEMs are focusing more on developing/producing idling-stop, hybrid and electric vehicles. With this background, a significant expansion in demand is expected for mechanical variable water pumps, electrical water pumps (EWP) and electrical oil pumps (EOP), both of which utilize electric motors. The company expects to further expand its electrical pump business by combining the company's motor technology with GPM's pump technology.
Through this transaction, the company expects to further transform its business model from one based solely on motors to one based on modularization/systematization and to accelerate its shift to high value-added businesses.
Nidec Corporation intends to make appropriate disclosure of the impact of the transaction described herein on its consolidated financial performance for the current fiscal year and announce any changes to its financial performance forecasts in accordance with the applicable stock exchange rules once such details are determined.
GPM is an automotive pump Tier 1 suppliers in the European market. It develops, manufactures and sells water pumps, oil pumps and module pumps mainly in Europe.