Nidec Corp. to acquire The Minster Machine Co.
The Minster Machine Company has announced that it is being acquired by Nidec-Shimpo, a division of Nidec Corporation. Nidec is a global technology corporation with headquarters in Kyoto, Japan and annual gross sales of $9 billion. The effective date of the transaction is expected to be in early April, 2012.
Minster President and CEO John Winch was quoted as saying, "We feel the acquisition by Nidec will give Minster a much larger competitive global footprint in the machinery, automation, and services marketplace, while maintaining local production and management. We feel this transaction will provide a very good long term strategic platform for growth and expansion."
Operations will continue in Minster, Ohio. Current owners, John and David Winch will remain with the organization, as will the balance of the management team. Terms of the transaction were not disclosed.