KYOTO, Japan, May 09, 2016 (GLOBE NEWSWIRE) -- Nidec Corporation (OTC:NJDCY) (TSE:6594) today announces that Nidec ASI S.p.A. (Milan, Italy) (“NASI”)—a subsidiary of Nidec specializing in industrial solutions, a part of Nidec’s appliance, commercial and industrial motor business—has signed a contract worth 125 million Euro with Russian Electric Motors (“REM”). As a result of this contract, NASI will become a partner of REM and assist with the design of a new manufacturing plant (planned to be completed in 2017) for large electric motors to be used in the Russian oil & gas sector. In addition, NASI will also supply approximately 250 large motors over a period from May 2016 until the new plant commences operation in December 2017.
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REM is a joint venture between Transneft, Russia's largest oil transportation company, and Konar, Russia's largest manufacturer of valves and fittings for pipelines. As a partner of REM, NASI will design, manufacture and supply 244 large motors that will play a vital role in the modernization of the pumping systems of the extensive trunk pipeline network, measuring around 80,000 km, operated by Transneft. The new motors that are to be designed and manufactured in NASI's Monfalcone factory will be used by Transneft to modernize the pump systems of the existing pipeline network in an effort to increase productivity and energy efficiency. The motors are to comply with international and Russian regulations and work at temperatures as low as -60°C with a capacity of up to 8 MW.
Also included in the agreement is the design of a plant for local production of the above mentioned type of motors in Chelyabinsk, at the foot of the Ural mountain range. NASI will also take care of the technical training for plant staff. Once completed, the plant will continue to supply NASI motors to the Russian domestic market.
The capability to design highly reliable motors suitable for oil and gas pipelines in environments with extreme climates, such as the Russian winter, as well as the flexibility to undertake custom projects are two of NASI's strong points that were key factors behind the agreement. The Nidec group aims to contribute to global sustainable development with high-efficient/high-output motors and sophisticated solutions.
Nidec ASI’s press release: http://www.nidec-asi.com/index.php/latest-news/russian-electric-motors-rem-places-order-worth-125-million-euro-with-nidec-asi/