Nidec To Acquire Italian Machine Tool Manufacturer PAMA and Affiliates
Nidec Corporation has announced today that it is purchasing the shares of the Italian machine tool manufacturer PAMA and its nine affiliates.
Nidec entered into the machine tool business after purchasing Mitsubishi Heavy Industries Machine Tool Co., Ltd. in August 2021, and purchasing the shares of OKK Corporation in February 2022. With the latest purchase of PAMA, the Company will be able to accelerate the generation of strong synergies with its existing two machine tool manufacturers in the product range, as well as product sale, development, and manufacturing.
PAMA is one of the most well-known companies in the machine tool industry for the wide range of product lineup and the high-level technological capabilities of its large machine tools, particularly boring and milling machines. The company is also known for its solid sales and service networks in Europe, China, USA and India.
Nidec Machine Tool Corporation and Nidec OKK Corporation, whose main products are gear cutting machines, large machine tools and machining centers, have been in need of further developing multitasking and 5-axis machining technology as well as expanding its lineup of boring and milling machines in the large machine tools space. Also, both companies’ main sales area has been in Japan and, compared with other major Japanese machine tool manufacturers, both companies have generated less sales from overseas markets such as European and American markets and Chinese market, where the future growth is expected.
Following completion of the acquisition of PAMA, through reciprocal usage of management resources between PAMA and the two machine tool companies, the Nidec Group intends to pursue synergies in all the areas of sale, manufacturing, and product development, including expanding sales in the Asian, European and American markets based on a wide range of product lineup and cross-selling, developing new products and components by combining the companies’ technological expertise and reducing lead time for delivery and manufacturing cost based on a global production optimization in Europe, the US, and Asia.
After completing the Stock Acquisition, the Company will actively provide PAMA with resources and make necessary investments in PAMA to accelerate the growth of Nidec’s machine tool business, which will contribute to the development of the machine tool market on a global scale.
For more information: www.nidec.com