Nidec Sankyo To Acquire Mitsubishi Materials CMI Corp. - Quick Facts

(RTTNews) - Nidec Sankyo Corp., a wholly-owned subsidiary of Nidec Corp. (NJ), Wednesday, announced agreement to acquire Mitsubishi Materials C.M.I. Corp., the motor and electric contact product business unit of Mitsubishi Materials Corp. (MBC.L, MSBHY.PK).

CMI's motor business primarily focuses on medium-diameter stepping motors particularly for the automotive and other products markets. Uses of such motors can be expanded for electronically controlling fuel injection valves to improve fuel efficiency and enhancing the functionality of head-up displays.

Nidec Sankyo intends to continue to shift its operational focus to growth areas by seeking opportunities to acquire businesses and to endeavor to accelerate organic growth in an effort to further expand its business operations.

CMI's products, which are currently sold mostly to Japanese customers, will be offered to new markets through the Nidec Group's marketing channels.