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Friday, March 29, 2024

Emerson Electric Announces Strategic Alternatives

Courtesy of Benzinga.

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Early Friday morning, Emerson Electric (NYSE: EMR) announced that it will seek strategic alternatives for its power transmission solutions business unit.

Plans for the business unit, which is currently part of the company's automated industry and generated $600 million of revenue in 2013, are expected to be finalized and announced by the end of the calendar year.

The Kentucky-based business unit employs over 3,000 people around the world; it both designs and manufactures products ranging from "market-leading" couplings to drive components.

Posted-In: News Asset Sales

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