Japanese manufacturer Nidec (NJ +2.3%) announces plans to establish Nidec Automotive Motor...

|About: Nidec Corporation (NJ)|By:, SA News Editor

Japanese manufacturer Nidec (NJ +2.3%) announces plans to establish Nidec Automotive Motor Americas Corporation as the strategic base for its automotive motor business in markets in the Americas. The company, which bought Illinois-based motor manufacturer Kinetek last year, has set a capital and capital reserve of $41.3M for the venture.