Minster to be acquired by Nidec
Nidec is a global technology corporation with headquarters in Kyoto, Japan and has annual gross sales of $9 billion. The transaction is expected to go through in early April 2012.
Minster is a leader in producing high quality products, integrated systems and services to the material forming industry.
John Winch, president and CEO of Minster, said: “We feel the acquisition by Nidec will give Minster a much larger competitive global footprint in the machinery, automation and services marketplace, while maintaining local production and management.” We feel this transaction will provide a very good long term strategic platform for growth and expansion.”
Operations will continue in Minster, Ohio. Current owners, John and David Winch will remain with the company as will the balance of the management team. Terms of the transaction were not disclosed.