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Emerson Electric

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Emerson Electric
Company typePublic (NYSE: EMR)
IndustryConglomerates
Founded1890
HeadquartersSt. Louis, Missouri, USA
Key people
David N. Farr, CEO
Walter J. Galvin, CFO
Edward L. Monser, COO
Charles A. Peters, Sr. Exec. VP
Craig W. Ashmore, Senior VP
Frank L. Steeves, Senior VP
Productsprocess control systems
climate technologies
power technologies
industrial automation
electric motors
storage systems
network power
professional tools
RevenueIncreaseUSD22.6 billion (2007)
3,231,000,000 United States dollar (2022) Edit this on Wikidata
Number of employees
~138,000(2007)
Websitewww.emerson.com

Emerson Electric Company NYSE: EMR is a major multinational corporation headquartered in St. Louis, Missouri, USA. This Fortune 500 company provides engineering services and innovative solutions for the customers in a wide range of industrial, commercial, and consumer markets.

Emerson is one of the largest engineering and conglomerate companies in the world which has a workforce of approximately 138,000 employees worldwide as of 2007 with a global presence spanning 150 countries.

History

Emerson was established in 1890 by the brothers Charles and Alexander Meston along with the principal investor: John Wesley Emerson. The company was then known as Emerson Electric Manufacturing Co. and manufactured electric motors and fans using an electric motor patented by the Meston brothers. Emerson was the first to sell electric fans in the United States in 1892. It quickly expanded its product line to include electric sewing machines, electric dental drills, and power tools.

During World War II under the leadership of Stuart Symington, it became the world's largest manufacturer of airplane armament. Symington went on to be the first Secretary of the Air Force and a U.S. Senator from Missouri.

On January 30th 2008, top excutives from Emerson had meetings with the Costa Rican President and goverment authotities to open a operation for Latin America. It will be based in Costa Rica. They are planning to hire more than 500 engineers in a period of 4 years.

Business Segments

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

  • Emerson Process Management
  • Emerson Network Power
  • Emerson Climate Technologies
  • Emerson Industrial Automation
  • Emerson Appliance Solutions
  • Emerson Storage Solutions
  • Emerson Professional Tools
  • Emerson Motor Technologies

Competitors

The major competitors for Emerson in various business segments include:

Corporate achievements

  • Emerson is the largest publicly traded company (by revenue) headquartered in Missouri.
  • Emerson is one among the Fortune 500 list of America's largest corporations, as ranked by revenues.
  • Emerson is one among the FORTUNE's Global 500 list of the world's largest companies, as ranked by revenues.
  • Emerson was awarded a record 486 patents worldwide in 2005.
  • Emerson is ranked No. 30 on the Information Week magazine's annual listing of the most innovative users of information technology in the United States.
  • Emerson has more than 270 manufacturing locations, of which approximately 170 are located outside the United States.
  • Emerson consistently ranks among the top companies within the electronics industry category in the definitive report card on corporate reputation, and is currently ranked #2 in FORTUNE America's Most Admired Companies.
  • Emerson was No. 9 on the Electronic Design magazine's ranking of the top 100 employers of electronic designers that have the most influence on today's engineering careers.
  • Emerson is ranked among the country's 400 best of the biggest publicly traded companies. Emerson has been featured on the Forbes 400 list for the past 8 years.[1]

Environmental record

Researchers at the University of Massachusetts Amherst have identified Emerson as the 56th-largest corporate producer of air pollution in the United States, with roughly 36,000 pounds of toxic chemicals released annually into the air.[2] Major pollutants indicated by the study include nickel compounds, manganese, diisocyanate, and lead.[3]

Emerson's acquisitions

28th September 2007 - It was announced that Emerson will acquire Motorola’s Embedded Communications Computing (ECC) business for US$ 350 million, expected to be completed by the end of 2007.[4] Other acquisitions by Emerson include:

NBC Heroes Lawsuit

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.[5]

North American Distributors

References

  1. ^ Emerson makes Forbes 400
  2. ^ Political Economy Research Institute Toxic 100 (Study released May 11, 2006) retrieved 17 Aug 2007
  3. ^ Toxics Release Inventory courtesy rtknet.org
  4. ^ Emerson to Acquire Motorola’s Embedded Communications Computing Business
  5. ^ Goetzl, David (2007-02-23). "Emerson Drops Product Placement Case Against NBC". MediaDailyNews. Retrieved 2007-02-23. {{cite web}}: Check date values in: |date= (help)
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