“ANA IMEP completes today a fundamental transaction for its future as a global player on the electric motor market. After 20 years, we atre proud of our achievements and happy to have secured a strong future for the company and the local economy,” ANA IMEP management said in a statement.
The deal targeted a 94.8% stake in ANA IMEP, which now becomes a subsidiary of the Japanese group.
ANA IMEP registered sales of EUR14.8 million at the end of 2015 and had 288 employees in Pitesti. Its clients include Indesit, Whirlpool, Vestel.
Nidec plans to invest in increasing the factory’s production capacity and to develop it as an engineering and centralized services center.