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Business

Nidec to grab German refrigerator compressor maker Secop

$227m deal would boost Japanese multinational's white goods parts ops

Nidec Chairman and President Shigenobu Nagamori

OSAKA -- Japanese motor giant Nidec plans to fully acquire the Secop group, a German refrigerator components maker, in a play to capture demand generated by tightening environmental regulations worldwide.

The deal seen at around 25 billion yen ($227 million) would turn Secop into a subsidiary by the end of the year.

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