OTTAWA (dpa-AFX) - Nidec Corp. (NJDCY), a Japanese manufacturer and distributor of electric motors, announced Tuesday that its Board of Directors has approved a resolution to acquire the share of Linear Transfer Automation Inc., Linear Automation USA Inc., and Presstrader Limited, privately-owned Canadian companies, from its shareholders on September 27.
The company executed an agreement on the Transaction of share on September 30, and the Transaction of share will be executed on October 1.
Barrie, Ontario, Canada-based Linear companies, with 90 employees, conduct manufacturing, sales and service for press peripheral equipment. Sales were C39.6 million or approximately 4.4 billion yen for the year 2023.
The company noted that Linear's products can be deployed to Europe and Asia markets utilizing Nidec's global sales, service and manufacturing bases, which will enable shorter delivery times.
The transaction is expected to have no significant impact on the Company's consolidated financial performance for this fiscal year ending March 31, 2025.
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