American group Emerson, which has two local plants in Cluj-Napoca and Oradea and over 2,400 employees in Romania, has sold its Leroy-Somer and Control Tehniques divisions to Japanese group Nidec Corporation.

The transaction, which is worth USD 1.2 billion, also includes some of Emerson’s local operations, reports local Ziarul Financiar.

Some 365 people work for the Emerson’s Leroy-Somer and Control Tehniques divisions in Romania, in the Cluj-Napoca and Oradea factories.

“The Emerson operations in Oradea will be fully transferred to Nidec, the new owner of these two plants,” according to Emerson officials.

Nidec recently took over the electrical engines factory ANA Imep in Pitesti from the Copos family, in a transaction estimated at 10-20 million.

Last year Emerson had a turnover of EUR 154.5 million, a net profit of EUR 4.4 million and an average number of 2,318 employees in Romania.

editor@romania-insider.com