Nidec Acquires Italian Cable Hoist Manufacturer E.C.E. S.r.l.

(RTTNews) - Nidec Corp. (NJ) said that it acquired a 100% ownership interest in E.C.E. S.r.l., an Italian cable hoist manufacturer, from the shareholders on May 20, 2016, local time to strengthen its building construction machine business conducted through Nidec's subsidiary, Nidec FIR Elettromeccanica S.r.l.

The company noted that it is actively moving forward with the development of new growth platforms with particular emphasis on automotive, appliance, commercial and industrial motors and solutions.

The company expects to strengthen FIR position in the building construction machines market. TEA International S.r.l., as a group company of FIR, covers sales and manufacturing of cable hoists for construction and has its presence mainly in Europe.