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Emerson Electric

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Not to be confused with Emerson Radio.
Emerson Electric Co.
Company typePublic
IndustryElectrical equipment
PredecessorEmerson Electric Manufacturing Co.
Founded1890; 134 years ago (1890)
FounderJohn W. Emerson
HeadquartersFerguson, Missouri, U.S.
Key people
Products
  • Process control systems
  • Climate technologies
  • Power technologies
  • Industrial automation
  • Electric motors
  • Storage systems
  • Professional tools
RevenueIncrease US$19.63 billion (2022)
Increase US$4.09 billion (2022)
Increase US$3.23 billion (2022)
Total assetsIncrease US$35.67 billion (2022)
Total equityIncrease US$10.36 billion (2022)
Number of employees
c. 85,500 (2022)
DivisionsList of business platforms
Websiteemerson.com
Footnotes / references
[1]
Emerson Electric office in Markham, Ontario

Emerson Electric Co. is an American multinational corporation headquartered in Ferguson, Missouri.[2][3][4] The Fortune 500 company manufactures products and provides engineering services for industrial, commercial, and consumer markets.[5][6][7] Emerson has approximately 86,700 employees and 170 manufacturing locations.[8]

History

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,[9] 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.[10]

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

In 1962, acquired United States Electrical Manufacturing Company as the U.S. Electrical Motors Division, including the brand U.S. Motors.[11] In 1968, it acquired the InSinkErator company.

Charles F. Knight served as CEO from 1973 to 2000, and was chairman from 1974 to 2004. His tenure was marked by the development of a rigorous planning process, new product and technology development, acquisitions and joint ventures, and international growth. David Farr succeeded him as chairman, who was also the CEO until 2021.

On December 15, 1999, Emerson Electric agreed to acquire Jordan Industries Inc.'s telecommunications equipment business for $440 million.[12]

In 2010, the U.S. Motors brand was sold to Nidec Motor Corporation.[11]

On July 26, 2011, Emerson announced it would locate its Latin America headquarters in Sunrise, Florida.[13]

On December 1, 2016, Platinum Equity acquired the Emerson Network Power business for over $4 billion and rebranded it Vertiv. The acquisition included the brands ASCO, Chloride, Liebert, NetSure, and Trellis.[14]

In July 2018, Emerson completed the purchase of Textron Tools and Test Businesses for $810 million (Including Greenlee, Klauke, HD Electric, and Sherman + Reilly).[15]

On April 1, 2020, Emerson acquired American Governor Company to boost its presence in the hydropower controls systems market.[16]

In October 2022, Emerson agreed to sell a 55 percent majority stake in its climate technologies business to private equity firm Blackstone Inc. in a $14 billion deal including debt.[17][18]

Products

Corporate

The company's leaders since the mid-20th century have been, respectively, W. R. Persons (1954–1973; President), Charles Knight (1973–2000, CEO), and David Farr (2000–2021, CEO).[19] The company's chair of the board have been Charles Knight (1974–2004) and David Farr (2004 to 2021). Jim Turley is the current Chair of the Board.

Emerson is structured into two business units: automation; and commercial and residential.[20][21]

Environmental records

In 2008 (using data from 2005), researchers at the University of Massachusetts Amherst 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.[22]

Corporate relationships

Emerson's brands acquisitions

On December 22, 2014, Emerson announced the acquisition of Scotland-based Cascade Technologies Ltd., expanding their gas-analysis portfolio with laser-based measurement analyzers and systems for enhanced industrial emissions monitoring, production efficiencies and regulatory compliance.[23] Other main Emerson acquisitions and brands include:

  • Advanced Protection Technologies
  • AMS Suite
  • American Governor Company
  • Aperture
  • APM Automation Solutions
  • Alco Controls
  • Appleton Group (formerly EGS Electrical Group)
  • Artesyn (spun off on Jan 2014)
  • ASCO International (sold to Schneider Electric in 2017)
  • ASCO Numatics
  • Astec (spun off on Jan 2014)
  • Aventics
  • Avocent
  • Avtron Loadbank
  • Bettis
  • Branson
  • Bristol Babcock
  • Cascade Technologies Ltd
  • Chloride Group
  • Chromalox (sold to JPMorgan Partners in 2003)[24]
  • Closet Maid (sold to Griffon Corp in late 2017)
  • Control Products
  • Control Techniques (sold to Nidec in early 2017)
  • Cooper-Atkins
  • Copeland
  • CSI Technologies
  • DeltaV
  • Dixell
  • Electronic Navigation Industries
  • Enardo LLC
  • Energy Systems
  • Firetrol
  • Fisher Regulators
  • Fisher Valves & Instruments
  • Fusite
  • GeoFields
  • Greenlee Tools
  • Groveley Detection Ltd
  • InSinkErator
  • Intelligent Store
  • Islatrol
  • Knurr (a business of Vertiv now)
  • Leroy-Somer (sold to Nidec in early 2017)
  • Liebert (a business of Vertiv now)
  • METCO
  • Metro (InterMetro Industries)
  • Micro Motion
  • Mimic
  • Mobrey
  • Open Systems International (pending sale late 2020)[25]
  • Ovation
  • Paine Electronics
  • Paradigm
  • Pentair Valves & Controls
  • Permasense
  • Plantweb Optics
  • Power Transmission Solutions
  • Progea Group
  • ProSys, Inc.[26]
  • ProTeam
  • Pryne & Co., Inc.[27]
  • Ridgid (Ridge Tool Company)
  • Rosemount
  • Rosemount Analytical
  • Roxar
  • Saab Marine Electronics
  • Sensi[28]
  • Spence and Nicholson
  • SSB Wind Systems (sold to Nidec in early 2017)
  • Surge Protection
  • Syncade
  • TopWorx
  • Tescom
  • Therm-O-Disc
  • Verdant[29]
  • Vilter
  • White-Rodgers
  • WORKSHOP

NBC Heroes lawsuit

On October 2, 2006, Emerson 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, severely injuring her hand. 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 and to block NBC from using any Emerson trademarks in the future.

On February 23, 2007, the case was dropped. NBC Universal and Emerson Electric settled the lawsuit outside of court.[30]

References

  1. ^ "US SEC: 2022 Form 10-K Emerson Electric Co". U.S. Securities and Exchange Commission. November 14, 2022. Retrieved November 14, 2022.
  2. ^ "Contact Us" Archived 2008-11-21 at the Wayback Machine. Emerson Electric Company. Retrieved August 18, 2009.
  3. ^ Edwards, Greg. "$60 million in data centers coming online at Emerson". St. Louis Business Journal. August 29, 2008. Retrieved August 18, 2009.
  4. ^ "Ferguson city, Missouri"[permanent dead link]. U.S. Census Bureau. Retrieved August 18, 2009.
  5. ^ "David Farr" Archived 2010-08-30 at the Wayback Machine
  6. ^ "Edward L. Monser". Emerson. Archived from the original on 2018-08-05. Retrieved 2017-05-05.
  7. ^ "Subsidiaries and affiliates of Emmerson Electric Company". SEC. September 30, 2018. Archived from the original on November 23, 2020. Retrieved 25 November 2020.
  8. ^ "US SEC: 2021 Form 10-K Emerson Electric Co". U.S. Securities and Exchange Commission. November 15, 2021. Retrieved February 14, 2022.
  9. ^ "Emerson Net Income, Sales Set New Peaks: Reflect Demand for Plane Turrets". Chicago Daily Tribune. Vol. CIV, no. 13 (Final ed.). Chicago, Illinois. January 15, 1945. p. 20 – via Newspapers.com.
  10. ^ Peck, Merton J. & Scherer, Frederic M. The Weapons Acquisition Process: An Economic Analysis (1962) Harvard Business School p.619
  11. ^ a b "HISTORY - U.S. Motors". Nidec Motor Corporation.
  12. ^ "Emerson Electric Moves to Expand in Telecom Gear". Archived from the original on 2013-09-10.
  13. ^ "Emerson jobs: 21 to start, 75 by 2015" Archived 2012-09-08 at the Wayback Machine. Sun Sentinel
  14. ^ "Emerson Network Power Rebrands as Vertiv, Appoints New CEO". www.businesswire.com. 2016-12-01. Retrieved 2020-08-28.
  15. ^ "Textron Completes Sale of Tools & Test Businesses to Emerson". finance.yahoo.com. Retrieved 2018-12-21.
  16. ^ "Emerson Acquires American Governor | Emerson US".
  17. ^ Cooper, Laura; Gottfried, Miriam (2022-10-31). "Blackstone, Emerson Electric Strike $14 Billion Buyout Deal". The Wall Street Journal.
  18. ^ "Emerson selling climate technologies in $14B deal". Associated Press. 2022-10-31.
  19. ^ "Emerson's David Farr, candid and outspoken, to retire. 'He tended to get out in front'". www.stltoday.com. Retrieved 2021-03-10.
  20. ^ "About Emerson | Emerson US".
  21. ^ "Surestore Storage". Saturday, 24 April 2021
  22. ^ PERI: Home Archived March 8, 2010, at the Wayback Machine
  23. ^ "Automation Solutions | Emerson US".
  24. ^ "StackPath".
  25. ^ "Emerson Expands Commitment to Advanced Software Solutions with Agreement to Purchase Open Systems International, Inc". 27 August 2020. Retrieved 2020-10-02.
  26. ^ "Emerson Completes Acquisition of ProSys, Inc. | Emerson". Archived from the original on 2018-09-11. Retrieved 2018-09-11.
  27. ^ "Pryne to become Emmerson unit". Los Angeles Times. March 20, 1957. p. 71. Retrieved 23 October 2020.
  28. ^ "Sensi Thermostats | Sensi US".
  29. ^ "Emerson Acquires Verdant, a Leading Energy Management Company in Hospitality". Bloomberg News. 11 March 2020.
  30. ^ Goetzl, David (2007-02-23). "Emerson Drops Product Placement Case Against NBC". MediaDailyNews. Retrieved 2017-06-27.
Wikimedia Commons has media related to Emerson Electric.
  • Emerson Electric Company website
  • Liebert Corporation - Divisional website
  • Asco Power Technologies - Divisional website
  • Emerson Climate Technologies - Divisional Website
  • Digital Scroll Compressors
  • Business data for Emerson Electric:
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