Latest In Emerson
Underlying sales grew 6 percent in first three months.
Edgar M. Purvis has been appointed CEO, while Edward L. Monser will remain president.
Company CEO: Purchase will strengthen Regal Beloit's global footprint.
Emerson profit up 2.4 percent for quarter.
Emerson will pay $571 million for the remaining 44.5 percent stake.
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Underlying sales increased 2 percent.
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Acquisition expands Emerson Process Management's storage tank offerings for the oil and gas, petrochemical and chemical industries.
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Pune, India-based Virgo serves global oil and gas, power and mining markets.
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Emerson agreed to sell a majority stake in its embedded computing and power business.
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U.S. sales increased in two out of five segments.
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CEO: ‘Pockets of growth’ amid overall slowness in end markets.
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