Japan's Nidec to buy Italian toolmaker Pama for $100m

Electric motor leader aims to become a machine tool powerhouse

A Nidec machine tool used for making gears. Most of the company's sales in the segment are domestic. (Photo courtesy of Nidec)

Nikkei staff writers

November 30, 2022 02:01 JST

KYOTO, Japan -- Japanese motor maker Nidec will acquire Pama, an Italian producer of machine tools, in a deal estimated to be worth 15 billion yen ($108 million), Nikkei has learned.

Nidec, the world's largest electric motor maker, sells hard disk drives for computers, motors for home appliances and traction motors for electric vehicles. The company now wants to develop the machine tools business as its biggest growth engine after EV drive systems.