Nidec acquires cable hoist manufacturer
Nidec Corporation announced that it acquired a 100% ownership interest in E.C.E. S.r.l., an Italian cable hoist manufacturer.
Terms of the transaction were not disclosed.
The company said the acquisition will strengthen its building construction machine business conducted through Nidec’s subsidiary, Nidec FIR Elettromeccanica S.r.l.
TEA International S.r.l., as a group company of FIR, covers sales and manufacturing of cable hoists for construction mainly in Europe. E.C.E is also a well-known brand in this area and is recognized as one of the best brands in the Middle East and North Africa. Nidec expects E.C.E. will help both FIR and TEA to work in tandem to enhance Nidec’s brand exposure in the broader regional markets.