Emerson promoted Andy Schwegel to VP of Global Sales at Appleton Group, which supplies electrical products to a range of industries.
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The $8.2B deal increases Emerson’s end market exposure in discrete markets, which will be Emerson’s second largest industry segment.
Over two days, the company says it has acquired Germany-based Flexim and Switzerland-based Afag.
The deal is expected to close in the first half of Emerson’s fiscal 2024.
MDM looks at another round of earnings reports from industrial distributors and manufacturers.
Ohio Transmission Corporation, an industrial equipment service distributor, acquired Diversified Pump, TP Pump and Critical Rental Solutions.
St. Louis-based Emerson Electric Co. acquired the wind-power control automation business in an all-cash transaction.
Emerson’s underlying sales were up 2%, while acquired assets and currency translation had 1% and 3% of positive impacts on sales.
Emerson says acquisition will help the company’s customers “further their sustainability goals through better air management.”
Emerson says acquisition will complement the company’s portfolio and “help customers in discrete and hybrid end markets accelerate digital transformation.”
Sales for the first nine months of the fiscal year were up 7% year-over-year.
The company has announced a strategic investment of $49 million to build the new facility in Connecticut.
The partnership will enable the companies to produce commercially available software products for license to help other oil field operators and service companies.
The facility will provide local access to Emersons portfolio of automation solutions.
Deal expands manufacturers valve portfolio and Main Valve Partner initiative.
AT&Ts Lori Lee to serve on companys audit, finance committees.
