Nidec Corporation has finalized its acquisition of Embraco, a Brazilian producer of refrigeration compressors, after agreeing to several conditions imposed by the European Commission. The EC was worried the $1.08bn transaction between Nidec and Whirlpool would violate competition rules by creating one dominant global manufacturer of refrigeration compressors, according to the Slovak news agency SITA. (Nidec produces refrigeration compressors through its subsidiary Nidec Global Appliance.) As part of the deal, the Japanese company will divest from its compressor business in Slovakia, Austria and China. Until recently, Nidec operated a plant in Zlaté Moravce in Slovakia’s Nita region. The company employs 1,200 people in Slovakia. Embraco, meanwhile, emplya 2,300 people in the country, with one of its subsidiaries located in Spišská Nová Ves.
