Jump to content

Emerson Electric

From Wikipedia, the free encyclopedia
(Redirected from Emerson Electrical Co.)

Emerson Electric Co.
Company typePublic
IndustryElectrical equipment
PredecessorEmerson Electric Manufacturing Co.
FoundedSeptember 24, 1890; 133 years ago (1890-09-24)
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$15.17 billion (2023)
Increase US$2.161 billion (2023)
Increase US$13.22 billion (2023)
Total assetsIncrease US$42.75 billion (2023)
Total equityIncrease US$20.69 billion (2023)
Number of employees
c. 67,000 (2023)
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, provides software engineering solutions, and offers engineering services for industrial, commercial, and consumer markets.[5][6][7] The company operates in over 150 countries,[8] providing products, engineering services, and solutions across a broad range of industries, including oil and gas,[9] power generation,[10] chemicals,[11] water treatment[12] and heating, ventilation, and air conditioning systems.[13]

In addition to its commitment to technological advancements, Emerson has prioritized sustainability and corporate social responsibility.[14] The company is actively pursuing goals related to energy efficiency, emissions reduction, and community development, making strides toward carbon neutrality in its operations.[15]

Emerson has made significant advancements in software engineering, particularly in the fields of automation and [[industrial internet of things.[16] The company’s software platforms, including "Plantweb Digital Ecosystem",[17] "DeltaV",[18] and "Ovation",[19] are designed to optimize performance across a variety of industries by integrating artificial intelligence, real-time data analytics, machine learning, and predictive maintenance solutions.[20] These platforms allow industrial operators to connect physical assets with digital electronic systems, resulting in improved operational efficiency and minimized downtime.[21]

History

[edit]

Emerson was established 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.[22] It quickly expanded its product line to include electric sewing machines, electric dental drills, and power tools.[23]

Emerson Electric News Flashes, WWII

During World War II, under the leadership of Stuart Symington,[24] 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.[25]

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, it acquired the United States Electrical Manufacturing Company as the U.S. Electrical Motors Division, including the brand U.S. Motors.[26] In 1968, it acquired the InSinkErator company.[27]

Charles F. Knight served as CEO from 1973 to 2000, and was chairman from 1974 to 2004. His tenure marked 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, and was also the CEO until 2021.[28]

On December 15, 1999, Emerson Electric reached an agreement to acquire Jordan Industries Inc.'s telecommunications equipment division for a total of $440 million, a strategic move aimed at strengthening its position in the rapidly growing telecommunications sector at the time.[29]

In 2010, Emerson sold its U.S. Motors brand to Nidec Corporation, marking a significant shift in Emerson’s focus towards more advanced technology-driven industries.[26]

On July 26, 2011, Emerson publicly announced its decision to establish its Latin American regional headquarters in Sunrise, Florida, as part of its strategy to expand its footprint in the region and better serve its growing customer base in Latin America.[30]

On December 1, 2016, Platinum Equity acquired Emerson’s Network Power division for more than $4 billion, rebranding the business as Vertiv. This acquisition encompassed several well-known brands, including ASCO, Chloride, Liebert, NetSure, and Trellis, significantly enhancing Platinum Equity’s portfolio in the critical infrastructure technology sector.[31]

In July 2018, Emerson completed the acquisition of Textron Tools and Test Businesses for a total of $810 million, which included brands such as Greenlee, Klauke, HD Electric, and Sherman + Reilly. This acquisition further expanded Emerson’s offerings in the professional tools and test equipment market, adding valuable assets to its business.[32]

On April 1, 2020, Emerson strengthened its presence in the hydropower control systems industry by acquiring the American Governor Company, a provider of technologies used to control hydroelectric turbines. This acquisition was aimed at boosting Emerson’s capabilities in renewable energy sectors.[33]

In October 2022, Emerson reached a significant deal to sell a 55 percent controlling interest in its climate technologies business to private equity firm Blackstone Inc. for $14 billion, including debt. This sale represented a decision by Emerson to pivot towards higher-growth areas such as automation, while also benefiting from Blackstone’s expertise in scaling businesses.[34][35]

Following a nearly year-long negotiation, in April 2023, Emerson finalized an agreement to acquire National Instruments in an all-cash transaction valued at $8.2 billion. This acquisition was designed to enhance Emerson’s automation technology capabilities, adding advanced testing and measurement technologies to its product portfolio and enabling further innovation in its industrial automation business.[36][37]

Corporate

[edit]

Emerson has undergone significant leadership transitions and strategic shifts since its founding in 1890. Key leadership in the mid-20th century includes W.R. Persons, who focused on diversification and expansion from 1954 to 1973,[38] followed by Charles Knight, under whom Emerson pursued aggressive acquisitions and global growth between 1973 and 2000. David Farr, who served as CEO from 2000 to 2021, continued to expand the company's reach into international markets and advanced technology sectors.[39] Jim Turley is the current Chair of the Board,[40] and Lal Karsanbhai serves as CEO.[41]

Emerson operates through two primary business units: Automation Solutions and Commercial & Residential Solutions.[42][43] Its Automation Solutions division focuses on process automation and digital transformation, providing software and engineering services to industries like oil and gas, power generation, and pharmaceuticals.[44] The Commercial & Residential Solutions unit focuses on climate technologies and residential products, including heating, ventilation, and air conditioning systems, tools, and compressors.[45]

Environmental records

[edit]

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.[46]

Since then, Emerson has made strides in reducing its environmental footprint. According to its 2023 sustainability report, the company achieved a 52% reduction in Scope 1 and Scope 2 greenhouse gas emissions intensity compared to 2021 levels.[47] Additionally, Emerson procures 49% of its electricity from renewable sources and has set long-term goals for further emissions reductions. In recognition of these efforts, Emerson was named the 2023 Energy Star Partner of the Year for energy management.[48]

Products

[edit]

Automation Solutions

[edit]

Emerson provides advanced process automation, control systems, and software solutions critical to industries such as oil and gas, power generation, chemicals, pharmaceuticals, and water treatment. The company's Plantweb Digital Ecosystem[49] integrates advanced sensing technologies, analytics software, and industrial internet of things solutions to optimize manufacturing processes. Key products include:

Emerson's automation solutions also include predictive maintenance technologies, remote monitoring, and control systems that leverage artificial intelligence, machine learning, and edge computing[54] for enhanced performance.

Commercial & Residential Solutions

[edit]

Emerson is a leader in heating, ventilation, and air conditioning and refrigeration technologies through its Copeland brand,[55] known for its compressors and related technologies that improve energy efficiency. Other notable brands and products in this segment include:

Aerospace and Defense Solutions

[edit]

Emerson Electric also plays a significant role in the aerospace and defense industry, producing high-performance avionics equipment.[60] The AN/APQ series of radar systems, which provide advanced targeting and navigation capabilities for military aircraft, are key products in this segment. Notable products include:

Corporate relationships

[edit]

Emerson's brands acquisitions

[edit]

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

  • Advanced Protection Technologies
  • AgileOps
  • 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)[62]
  • Closet Maid (sold to Griffon Corp in late 2017)
  • Control Products
  • Control Techniques (sold to Nidec in early 2017)
  • Cooper-Atkins
  • Copeland (sold to Blackstone in early 2023)
  • CSI Technologies
  • DeltaV
  • Dixell
  • Electronic Navigation Industries
  • Enardo LLC
  • Energy Systems
  • Firetrol
  • Fisher Regulators
  • Fisher Valves & Instruments
  • Flexim[63]
  • Fusite
  • GeoFields
  • Greenlee
  • 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
  • National Instruments
  • Open Systems International (pending sale late 2020)[64]
  • Ovation
  • Paine Electronics
  • Paradig
  • Penberthy
  • Pentair Valves & Controls
  • Permasense
  • Plantweb Optics
  • Power Transmission Solutions
  • Progea Group
  • ProSys, Inc.[65]
  • ProTeam
  • Pryne & Co., Inc.[66]
  • Ridgid (Ridge Tool Company)
  • Rosemount
  • Rosemount Analytical
  • Roxar
  • Saab Marine Electronics
  • Sensi (Part of Copeland)[67]
  • Spence and Nicholson
  • SSB Wind Systems (sold to Nidec in early 2017)
  • Surge Protection
  • Syncade
  • TopWorx
  • Tescom
  • Therm-O-Disc
  • Universal Western Electric Co. (1960)[68]
  • Verdant[69]
  • Vilter
  • White-Rodgers
  • WORKSHOP
  • Zedi

Controversies

[edit]

NBC Heroes lawsuit

[edit]

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."[70]

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.[71]

References

[edit]
  1. ^ "US SEC: 2023 Form 10-K Emerson Electric Co". U.S. Securities and Exchange Commission. November 13, 2023. Retrieved November 14, 2023.
  2. ^ "Contact Us" Archived November 21, 2008, 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 August 30, 2010, at the Wayback Machine
  6. ^ "Edward L. Monser". Emerson. Archived from the original on August 5, 2018. Retrieved May 5, 2017.
  7. ^ "Subsidiaries and affiliates of Emmerson Electric Company". SEC. September 30, 2018. Retrieved November 25, 2020.
  8. ^ "Emerson - ION Treasury customer success story". ION. Retrieved September 21, 2024.
  9. ^ "Oil & Gas". www.emerson.com. Retrieved September 21, 2024.
  10. ^ "Power Generation". www.emerson.com. Retrieved September 21, 2024.
  11. ^ "Chemical Process Management". www.emerson.com. Retrieved September 21, 2024.
  12. ^ "Water Treatment Solutions". www.emerson.com. Retrieved September 21, 2024.
  13. ^ "Oil & Gas". www.emerson.com. Retrieved September 21, 2024.
  14. ^ "Social Responsibility". www.emerson.com. Retrieved September 21, 2024.
  15. ^ "Our Approach to Environmental Sustainability & A Net Zero Future". www.emerson.com. Retrieved September 21, 2024.
  16. ^ "Automation & Control Software". www.emerson.com. Retrieved September 21, 2024.
  17. ^ "Plantweb digital ecosystem". www.emerson.com. Retrieved September 21, 2024.
  18. ^ a b "DeltaV Automation Platform". www.emerson.com. Retrieved September 21, 2024.
  19. ^ a b "Ovation". www.emerson.com. Retrieved September 21, 2024.
  20. ^ "DeltaV Predictive Maintenance". www.emerson.com. Retrieved September 21, 2024.
  21. ^ "Emerson advancing Digital Transformation with Operational Analytics". www.emerson.com. Retrieved September 21, 2024.
  22. ^ "A Brief History of Fans". www.fancollectors.org. Retrieved September 22, 2024.
  23. ^ "Emerson Company History". www.emerson.com. Retrieved September 22, 2024.
  24. ^ "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.
  25. ^ Peck, Merton J. & Scherer, Frederic M. The Weapons Acquisition Process: An Economic Analysis (1962) Harvard Business School p.619
  26. ^ a b "History – U.S. Motors". Nidec Motor Corporation.
  27. ^ "Insinkerator Acquired by Whirlpool Corporation". insinkerator.emerson.com. Retrieved March 20, 2023.
  28. ^ "Emerson Electric". Knowledge. Retrieved September 22, 2024.
  29. ^ "Emerson Electric Moves to Expand in Telecom Gear". Archived from the original on September 10, 2013.
  30. ^ "Emerson jobs: 21 to start, 75 by 2015" Archived September 8, 2012, at the Wayback Machine. Sun Sentinel
  31. ^ "Emerson Network Power Rebrands as Vertiv, Appoints New CEO". BusinessWire.com. December 1, 2016. Retrieved August 28, 2020.
  32. ^ "Textron Completes Sale of Tools & Test Businesses to Emerson". finance.yahoo.com. Retrieved December 21, 2018.
  33. ^ "Emerson Acquires American Governor". Emerson US.
  34. ^ Cooper, Laura; Gottfried, Miriam (October 31, 2022). "Blackstone, Emerson Electric Strike $14 Billion Buyout Deal". The Wall Street Journal.
  35. ^ "Emerson selling climate technologies in $14B deal". Associated Press. October 31, 2022.
  36. ^ Gomes, Nathan (April 12, 2023). "Emerson Electric to buy NI for $8.2 bln to deepen automation push". Reuters.
  37. ^ Merrilees, Annika (April 12, 2023). "Emerson succeeds in hostile bid, reaches $8.2 billion deal to buy National Instruments". St. Louis Post-Dispatch.
  38. ^ Johnston, David Cay (November 24, 1999). "Wallace Persons, 90, Executive; Led Growth of Emerson Electric". The New York Times.
  39. ^ "Emerson's David Farr, candid and outspoken, to retire. 'He tended to get out in front'". StlToday.com. February 2, 2021. Retrieved March 10, 2021.
  40. ^ "Company Leadership – James S. Turley". Northrop Grumman. Retrieved September 22, 2024.
  41. ^ "Lal Karsanbhai | Emerson President and Chief Executive Officer". www.emerson.com. Retrieved September 22, 2024.
  42. ^ "About Emerson". Emerson US.
  43. ^ "Surestore Storage". Saturday, April 24, 2021
  44. ^ "Emerson Automation Solutions United States". www.emerson.com. Retrieved September 22, 2024.
  45. ^ "Commercial & Residential Solutions". www.emerson.com. Retrieved September 22, 2024.
  46. ^ PERI: Home Archived March 8, 2010, at the Wayback Machine
  47. ^ "Emerson Releases 2023 Sustainability Report". www.emerson.com. Retrieved September 22, 2024.
  48. ^ "Emerson Named 2023 Energy Star Partner of the Year for Energy Management". www.emerson.com. Retrieved September 22, 2024.
  49. ^ "Plantweb digital ecosystem". www.emerson.com. Retrieved September 21, 2024.
  50. ^ "Fisher". www.emerson.com. Retrieved September 21, 2024.
  51. ^ "Rosemount". www.emerson.com. Retrieved September 21, 2024.
  52. ^ "Micro Motion Flow Meters". www.emerson.com. Retrieved September 21, 2024.
  53. ^ "AMS". www.emerson.com. Retrieved September 21, 2024.
  54. ^ "Emerson's New Engineering Software Accelerates Plant Modernization Using Artificial Intelligence". www.emerson.com. Retrieved September 21, 2024.
  55. ^ "Copeland is Engineered for Sustainability". www.copeland.com. Retrieved September 21, 2024.
  56. ^ "Sensi Brand". www.emerson.com. Retrieved September 21, 2024.
  57. ^ "Garbage Disposals | Instant Hot Water Dispensers". insinkerator.emerson.com. Retrieved September 21, 2024.
  58. ^ "Greenlee". www.emerson.com. Retrieved September 21, 2024.
  59. ^ "RIDGID Power Tools". www.emerson.com. Retrieved September 21, 2024.
  60. ^ "Aerospace / Defense Pressure & Temperature Measurement Solutions". www.emerson.com. Retrieved September 21, 2024.
  61. ^ "Automation Solutions". Emerson US.
  62. ^ "StackPath". January 2003.
  63. ^ "Emerson Expands Automation Leadership With Agreement to Acquire Flexim". August 16, 2023. Retrieved September 21, 2023.
  64. ^ "Emerson Expands Commitment to Advanced Software Solutions with Agreement to Purchase Open Systems International, Inc" (Press release). August 27, 2020. Retrieved October 2, 2020.
  65. ^ "Emerson Completes Acquisition of ProSys, Inc. | Emerson". Archived from the original on September 11, 2018. Retrieved September 11, 2018.
  66. ^ "Pryne to Become Emerson Unit". Los Angeles Times. March 20, 1957. p. 71. Retrieved October 23, 2020.
  67. ^ "Sensi Thermostats". Sensi US.
  68. ^ "The Fountain Valley News June 1, 1962 — Colorado Historic Newspapers Collection".
  69. ^ "Emerson Acquires Verdant, a Leading Energy Management Company in Hospitality". Bloomberg News. March 11, 2020.
  70. ^ "'Heroes' lawsuit against NBC by Emerson draws readers' ire. - Oct. 18, 2006". money.cnn.com. Retrieved September 22, 2024.
  71. ^ Goetzl, David (February 23, 2007). "Emerson Drops Product Placement Case Against NBC". MediaDailyNews. Retrieved June 27, 2017.
[edit]
Wikimedia Commons has media related to Emerson Electric.
  • Official website
  • Business data for Emerson Electric Co.:
Retrieved from "https://en.wikipedia.org/w/index.php?title=Emerson_Electric&oldid=1247059054"