KYOTO, Japan, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) ("Nidec") today announced that it established a new manufacturing subsidiary, NIDEC (SHAOGUAN) LIMITED ("New Subsidiary"), in Shaoguan, Guangdong Province, China.
1. Objectives of the New Subsidiary
The New Subsidiary manufactures brushless DC motors for cooling fans and optical disk drives in collaboration with Nidec (Dongguan) Limited, which was established in Dongguan, Guangdong province in 2002. Located in the same province, the two companies aim to strengthen Nidec's manufacturing operations in the rapidly developing southern China.
2. Outline of the New Subsidiary (including plans)
| (1) Name: NIDEC (SHAOGUAN) LIMITED |
| (2) Address: HuangHuaYuan Industrial Zone, Shixing County, Shaoguan City, |
| Guangdong Prov., The People's Republic of China |
| (3) Date of establishment: |
| October 10, 2010 |
| (4) Capital: $5,000,000 (25% invested by Nidec Corporation, and 75% |
| by NIDEC (DONGGUAN) LIMITED |
| (5) Representatives: |
| Mr. Norimasa Goto: Chairman |
| Mr. Yutaka Matsui: Vice Chairman |
| Yukio Serizawa: President |
| (6) Business: Manufacturing of fan motors and ODD brushless DC motors |
| (7) Expected starting date: |
| November 2010 |
| (8) Site area: 50,000 sq m |
| (9) Gross floor area of the factory: |
| 28,000 sq m |
| (10) Number of floors: |
| South Blg – three floors; and North Bldg. – three floors |
| (11) Number of employees: |
| 3,000 people |
| (12) Expected monthly production volume: |
| 9,000,000 units |
The Nidec Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1734
Disclaimer/Forward-looking Statements
This press release material contains forward-looking statements including expectations, judgments, plans, and strategies. The forward-looking statements are based on management's assumptions and belief in light of the information currently available. Certain risks, uncertainties and other factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: fluctuation of currency exchange rates, overall supply and customer demand in the motor industry, product development and production capabilities, performance of affiliated companies, and other risks and uncertainties. Nidec undertakes no obligation to update forward-looking statements to reflect events or circumstances that occur after the date the statements are made.