Emerson Electric

Emerson Electric
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
 David N. Farr (Chairman & CEO)
Products Process control systems
Climate technologies
Power technologies
Industrial automation
Electric motors
Storage systems
Network power
Professional tools
Revenue Decrease $22.304 billion (2015)
Increase $2.710 billion (2015)
Total assets Decrease $22.088 billion (2015)
Total equity Decrease $8.128 billion (2015)
Number of employees
 111,000 (2015)
Divisions List of business platforms
Website Emerson.com
Emerson Electric office

The Emerson Electric Company (NYSE: EMR) is an American multinational corporation headquartered in Ferguson, Missouri, United States.[1][2][3] This Fortune 500 company manufactures products and provides engineering services for a wide range of industrial, commercial, and consumer markets.[4][5] Emerson has approximately 111,000 employees and 205 manufacturing locations worldwide.[6]

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.[7] 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®. [8]

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.[9]

In 2010, U.S. MOTORS® brand sold to Nidec Motor Corporation.[8]

On July 26, 2011, Emerson announced it would locate its Latin America headquarters in Sunrise, Florida.[10]

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. [11]

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).

As of 2014, the role of chief marketing officer was held by Kathy Button Bell.[12]

Business platforms

Emerson is structured into 2 business platforms:[13]

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:

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.[16]

References

  1. ↑ "Contact Us". Emerson Electric Company. Retrieved August 18, 2009.
  2. ↑ Edwards, Greg. "$60 million in data centers coming online at Emerson". St. Louis Business Journal. August 29, 2008. Retrieved August 18, 2009.
  3. ↑ "Ferguson city, Missouri". U.S. Census Bureau. Retrieved August 18, 2009.
  4. ↑ "David Farr"
  5. ↑ "Edward L. Monser". Emerson. Retrieved 2017-05-05.
  6. ↑ "Archived copy". Archived from the original on 2010-08-21. Retrieved 2014-07-28.
  7. ↑ Peck, Merton J. & Scherer, Frederic M. The Weapons Acquisition Process: An Economic Analysis (1962) Harvard Business School p.619
  8. 1 2 "HISTORY - U.S. Motors". Nidec Motor Corporation.
  9. ↑ "Emerson Electric Moves to Expand in Telecom Gear".
  10. ↑ "Emerson jobs: 21 to start, 75 by 2015". Sun Sentinel
  11. ↑ http://www.businesswire.com/news/home/20161201005941/en/Emerson-Network-Power-Rebrands-Vertiv-Appoints-CEO
  12. ↑ Carson, Erin (25 July 2014). "Kathy Button Bell: CMO. Moment Marketer. Big Picture Person. Athlete.". TechRepublic.
  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. ↑ Goetzl, David (2007-02-23). "Emerson Drops Product Placement Case Against NBC". MediaDailyNews. Retrieved 2017-06-27.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.