Emerson Closes Purchase of EGS Electrical and Renames to Appleton Group

Emerson (NYSE: EMR) today announced that it has closed the transaction acquiring SPX Corporation’s 44.5 percent minority interest in EGS Electrical Group, giving it 100 percent ownership of the business. Emerson and SPX have jointly held the business since 1997, with Emerson responsible for operational management and control. Results for the business, which had annual revenues in 2013 of more than $500 million, have been consolidated in Emerson’s Industrial Automation segment.

As announced in December, the transaction allows Emerson to focus on emerging growth opportunities in the oil, gas and chemical industries through its strong Process Management and international channels. Market repositioning actions to pursue these opportunities are already underway, including renaming the business unit to Appleton Group, reflecting its most recognized brand. The transaction is expected to be slightly accretive to earnings per share in 2014.

About Emerson                                                   

Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial, and consumer markets around the world. The company is comprised of five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions. Sales in fiscal 2013 were $24.7 billion. For more information, visit www.Emerson.com.

News Release

Emerson Adds Touchscreen Display and Apple HomeKit-Compatible Thermostats to Nationally...

Emerson, a leader in the thermostat and HVAC controls industry, today announced the next evolution of its nationally recognized smart thermostat.
May 22, 2017
read more
News Release

Emerson Selected to Help Convert UK Coal-Fired Plant to Biomass

Lynemouth plant to produce low-carbon electricity, supporting Europe’s goals to increase renewable energy sources, reduce pollutants
May 18, 2017
read more
News Release

Emerson to Present at the Electrical Products Group Conference

Emerson today announced that on Wednesday, May 24, 2017, Emerson Chairman and Chief Executive Officer David Farr will present at the Electrical...
May 16, 2017
read more
Please enable JavaScript to use this website.