Nidec and Embraer Receive Approval for Joint Venture to Develop Electric Propulsion System for Aerospace Sector
Japan’s Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) and Brazil’s Embraer (B3: EMBR3, NYSE: ERJ) welcome the unconditional approval from all necessary regulatory authorities for the establishment of their joint venture, Nidec Aerospace LLC.
- Japan’s Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) and Brazil’s Embraer (B3: EMBR3, NYSE: ERJ) welcome the unconditional approval from all necessary regulatory authorities for the establishment of their joint venture, Nidec Aerospace LLC.
- The transaction combines the complementary synergies and distinct areas of expertise of two world-class engineering conglomerates to develop Electric Propulsion Systems (EPS) for the aerospace sector.
- Braley brings broad experience in business development and management to his new role to lead the joint venture’s future growth.
- Nidec owns a 51% share of the joint venture, and Embraer the remaining 49%.