Source: Nidec

Nidec Corporation announced that the Company completed the acquisition of the compressor business of Whirlpool Corporationon July 2, 2019 (July 1, 2019 local time in Brazil) following the European Commission’s approval granted on June 26, 2019. This acquisition was performed in line with the acquisition plan announced on April 24, 2018 in the Company’s press release titled “Nidec to Acquire Whirlpool Corporation’s Compressor Business.” As a result of this acquisition, Embraco and their subsidiaries became Nidec’s subsidiaries. In addition, certain customary post-closing filings and registrations related to the acquisition of two subsidiaries in China of Embraco are expected to be completed by September 30, 2019.