Emerson Electric

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Emerson Electric
Type Public (NYSEEMR)
S&P 500 Component
Industry Electrical equipment
Predecessor(s) Emerson Electric Manufacturing Co.
Founded 1890
Founder(s) John W. Emerson
Headquarters Ferguson, Missouri, U.S.
Area served Worldwide
Key people David N. Farr (Chairman & CEO)
Products process control systems
climate technologies
power technologies
industrial automation
electric motors
storage systems
network power
professional tools
Revenue Increase $24.222 billion (2011)
Operating income Decrease $3.233 billion (2011)
Net income Increase $2.480 billion (2011)
Total assets Increase $23.861 billion (2011)
Total equity Increase $10.551 billion (2011)
Employees 133,200 (2011)
Divisions List of divisions
Website Emerson.com

The Emerson Electric Company (NYSEEMR) is an American multinational corporation headquartered in Ferguson, Missouri, United States.[1][2][3] This Fortune 500 company manufactures products and provides engineering services for a wide range of industrial, commercial, and consumer markets.[4][5]

Emerson is one of the largest power equipment manufacturers in the U.S. As of 2010, it has a workforce of approximately 127,800 employees worldwide, with a global presence spanning 150 countries.[6]

History[edit]

Emerson was established in 1890 in St. Louis, Missouri as Emerson Electric Manufacturing Co. by Civil War Union veteran John Wesley Emerson to manufacture electric motors using a patent owned by the Scottish-born brothers Charles and Alexander Meston. In 1892, it became the first to sell electric fans in the United States. It quickly expanded its product line to include electric sewing machines, electric dental drills, and power tools.

Emerson Electric News Flashes, WWII

During World War II, under the leadership of Stuart Symington, Emerson became the world's largest manufacturer of airplane armament. Emerson ranked 52nd among United States corporations in the value of World War II military production contracts.[7] Symington went on to become the first United States Secretary of the Air Force from 1947-1950, a Democratic U.S. Senator from Missouri from 1953-1976, and a candidate for the Presidency of the United States in 1960.

In 1954, W.R. "Buck" Persons was named company president. Under his leadership, Emerson diversified its business portfolio by acquiring 36 companies. When he retired in 1973, the company had 82 plants, 31,000 employees and $800 million in sales.

Charles F. Knight served as CEO from 1973 to 2000, and was chairman from 1974 to 2004. His tenure was marked by development of a rigorous planning process, new product and technology development, acquisitions and joint ventures, and international growth.

David N. Farr has served as CEO since 2000 and as chairman since 2004.

On December 15, 1999, Emerson Electric Co, moving to boost its growth prospects, agreed to acquire Jordan Industries Inc's telecommunications-equipment business for $440 million.[8]

On July 26, 2011, Emerson announced it would locate its Latin America headquarters in Sunrise, Florida.[9]

Business segments[edit]

Emerson products, solutions and services go to market under nine business platforms:

  1. Emerson Process Management - product technology as well as engineering and project management services for precision control, monitoring and asset optimization of plants that produce power or that process such items as oil, natural gas and petrochemicals, food and beverage, pulp and paper, pharmaceuticals and municipal water and wastewater systems.
  2. Emerson Network Power - Emerson Network Power provides power backup systems, embedded power, precision cooling, and connectivity technologies for data centers, telecommunications networks, and other applications.
  3. Emerson Climate Technologies - global manufacturer of heating, ventilation, air conditioning and refrigeration solutions for residential, industrial and commercial applications, including Copeland Scroll compressors and White-Rodgers thermostats.
  4. Emerson Industrial Automation - global manufacturer of alternators, electric motors and drives, electrical distribution devices, mechanical power transmission, fluid automation and ultrasonic joining solutions.
  5. Emerson Appliance Solutions - manufacturer of food waste disposers (InSinkErator brand) and technology solutions used in washers and dryers.
  6. Emerson Storage Solutions - manufacturer of residential, healthcare, foodservice and commercial storage systems, including ClosetMaid and Metro brands.
  7. Emerson Professional Tools - power and hand tools, wet/dry vacs, and tool storage equipment for contractors and do-it-yourselfers, including RIDGID brand.
  8. Emerson Motor Technologies
  9. Emerson Innovation Center

Corporate achievements[edit]

  • Emerson is ranked No. 120 on the Fortune 500 list of America's largest corporations, as ranked by revenues.
  • Emerson is ranked No. 443 on Fortune's Global 500 list of the world's largest companies, as ranked by revenues.
  • Emerson was awarded approximately 750 patents worldwide in 2010.
  • Emerson is ranked No. 104 on the Information Week magazine's annual listing of the most innovative users of information technology in the United States (September 2010).
  • Emerson has 240 manufacturing locations, of which approximately 160 are located outside the United States.
  • Emerson was No. 44 on the Electronic Design magazine's ranking of the top 50 employers of electronic designers that have the most influence on today's engineering careers (June 2009).
  • Emerson is ranked No. 5 in Electronics Industry of Fortune's World's Most Admired Companies 2011.
  • Emerson is ranked No. 254 in Forbes World's Biggest Companies 2010.

Environmental record[edit]

Researchers at the University of Massachusetts Amherst have identified Emerson as the 97th largest corporate producer of air pollution in the United States, down from its previous rank of 56th. Major pollutants indicated by the study include nickel compounds, manganese, diisocyanate, and lead.[10]

Corporate relationships[edit]

Emerson's acquisitions[edit]

On September 28, 2007 it was announced that Emerson will acquire Motorola’s Embedded Communications Computing (ECC) business for $350 million, deal is expected to be completed by the end of 2007.[11] Other acquisitions by Emerson include:

North American distributors[edit]

European distributors[edit]

NBC Heroes lawsuit[edit]

On October 2, 2006, Emerson, the company that makes the popular InSinkErator garbage disposals, filed suit in federal court against NBC regarding a scene that appeared in the pilot episode of the network's TV series Heroes. The scene depicted Claire Bennet reaching into an active garbage disposal to retrieve a ring, and severely injuring her hand in the process. Emerson's suit claims the scene "casts the disposer in an unsavory light, irreparably tarnishing the product" by suggesting that serious injuries will result "in the event consumers were to accidentally insert their hand into one."

Emerson asked for a ruling barring future broadcasts of the pilot, which is available on NBC's website and has already aired on NBC Universal-owned cable networks USA and Sci Fi. It also sought to block NBC from using any Emerson trademarks in the future. Emerson is an appliance market competitor with General Electric, the owner of NBC.

On February 23, 2007, the case against NBC was dropped. NBC Universal and Emerson Electric reached an agreement to settle the lawsuit outside of court.[12]

References[edit]

  1. ^ "Contact Us". Emerson Electric Company. Retrieved August 18, 2009.
  2. ^ Edwards, Greg. "$60 million in data centers coming online at Emerson". St. Louis Business Journal. August 29, 2008. Retrieved August 18, 2009.
  3. ^ "Ferguson city, Missouri". U.S. Census Bureau. Retrieved August 18, 2009.
  4. ^ "David Farr"
  5. ^ "Edward L. Monser"
  6. ^ "Frank Dellaquilla"
  7. ^ Peck, Merton J. & Scherer, Frederic M. The Weapons Acquisition Process: An Economic Analysis (1962) Harvard Business School p.619
  8. ^ "Emerson Electric Moves to Expand in Telecom Gear". 
  9. ^ "Emerson jobs: 21 to start, 75 by 2015". Sun Sentinel
  10. ^ PERI: Home
  11. ^ Emerson to Acquire Motorola’s Embedded Communications Computing Business
  12. ^ Goetzl, David (2007-02-23). "Emerson Drops Product Placement Case Against NBC". MediaDailyNews. Retrieved 2007-02-23. 

External links[edit]