Emerson Electric

Emerson Electric Co.
Public
Traded as
Industry Electrical equipment
Predecessor Emerson Electric Manufacturing Co.
Founded 1890 (1890)
Founder John W. Emerson
Headquarters Ferguson, Missouri, U.S.
Area served
 Worldwide
Key people
Products
  • Process control systems
  • Climate technologies
  • Power technologies
  • Industrial automation
  • Electric motors
  • Storage systems
  • Network power
  • Professional tools
Revenue
Total assets
Total equity
Number of employees
 ~76,500[1]
Divisions List of business platforms
Website emerson.com
Emerson Electric office

The Emerson Electric Company is an American multinational corporation headquartered in Ferguson, Missouri, United States.[2][3][4] This Fortune 500 company manufactures products and provides engineering services for a wide range of industrial, commercial, and consumer markets.[5][6] Emerson has approximately 103,500 employees and 205 manufacturing locations worldwide.[7]

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, 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.[8] 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.

In 1962, acquired United States Electrical Manufacturing Company as the U.S. Electrical Motors Division, including the brand U.S. MOTORS®.[9]

In 1968, acquired InSinkErator company.

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 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.[10]

In 2010, U.S. MOTORS® brand sold to Nidec Motor Corporation.[9]

On July 26, 2011, Emerson announced it would locate its Latin America headquarters in Sunrise, Florida.[11]

On December 1, 2016, Platinum Equity acquired Emerson Network Power business unit and rebranded it Vertiv. The acquisition included the brands: Asco, Chloride, Liebert, Netsure, and Trellis.[12]

Corporate governance

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 forward, CEO).

The company's chairmen of the board have been, respectively, Charles Knight (1974-2004) and David Farr (2004 forward).

Business platforms

Emerson is structured into 2 business platforms:[13]

  • Automation Solutions
  • Commercial & Residential Solutions

Environmental records

Researchers at the University of Massachusetts (MA) 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.[14]

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.[15] Other main Emerson acquisitions and brands include:

  • Advanced Protection Technologies
  • AMS Suite
  • Aperture
  • APM Automation Solutions
  • Appleton Group (formerly EGS Electrical Group)
  • Artesyn (spun off on Jan 2014)
  • ASCO International
  • ASCO Numatics
  • Astec (spun off on Jan 2014)
  • AVENTICS
  • Avocent
  • Avtron Loadbank
  • Bettis
  • Branson
  • Bristol Babcock
  • Cascade Technologies Ltd
  • Chloride Group
  • Closet Maid (sold to Griffon Corp in late 2017)
  • Control Products
  • Control Techniques (sold to Nidec in early 2017)
  • Cooper-Atkins
  • Copeland
  • CSI Technologies
  • Daniel Industries Inc.
  • DeltaV
  • Dixell
  • Electronic Navigation Industries
  • Enardo LLC
  • Energy Systems
  • Firetrol
  • Fisher Regulators
  • Fisher Valves & Instruments
  • Fusite
  • 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)
  • Metro (InterMetro Industries)
  • Micro Motion
  • Mimic
  • Mobrey
  • Ovation
  • Paine Electronics
  • Paradigm
  • Pentair Valves & Controls
  • Permasense
  • PlantWeb
  • Power Transmission Solutions
  • ProSys, Inc.[16]
  • ProTeam
  • RIDGID (Ridge Tool Company)
  • Rosemount
  • Rosemount Analytical
  • Roxar
  • Saab Marine Electronics
  • SSB Wind Systems (sold to Nidec in early 2017)
  • Surge Protection
  • Syncade
  • TopWorx
  • Tescom
  • Textron (tools and tests businesses)[17]
  • Therm-O-Disc
  • 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.[18]

References

  1. 1 2 3 4 5 6 7 8 "US SEC: Form 10-K Emerson Electric Co". United States Securities and Exchange Commission. Retrieved January 11, 2018.
  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". U.S. Census Bureau. Retrieved August 18, 2009.
  5. ↑ "David Farr" Archived 2010-08-30 at the Wayback Machine.
  6. ↑ "Edward L. Monser". Emerson. Retrieved 2017-05-05.
  7. ↑ "2016 Annual Report" (PDF). Retrieved 2017-11-05.
  8. ↑ Peck, Merton J. & Scherer, Frederic M. The Weapons Acquisition Process: An Economic Analysis (1962) Harvard Business School p.619
  9. 1 2 "HISTORY - U.S. Motors". Nidec Motor Corporation.
  10. ↑ "Emerson Electric Moves to Expand in Telecom Gear". Archived from the original on 2013-09-10.
  11. ↑ "Emerson jobs: 21 to start, 75 by 2015". Sun Sentinel
  12. ↑ http://www.businesswire.com/news/home/20161201005941/en/Emerson-Network-Power-Rebrands-Vertiv-Appoints-CEO
  13. ↑ http://www.emerson.com/en-us/about-us
  14. ↑ PERI: Home Archived July 27, 2010, at the Wayback Machine.
  15. ↑ http://www2.emersonprocess.com/en-US/news/pr/Pages/1412-Cascade.aspx
  16. ↑ https://www.prosys.com/resources/emerson-completes-acquisition-of-prosys-inc
  17. ↑ https://www.aviationtoday.com/2018/07/03/textron-l3-complete-sales-businesses/
  18. ↑ Goetzl, David (2007-02-23). "Emerson Drops Product Placement Case Against NBC". MediaDailyNews. Retrieved 2017-06-27.
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