Industry Electrical equipment Revenue 22.3 billion USD (2015) Number of employees 111,000 Founded 1890 | Area served Worldwide CEO David Farr (Oct 2000–) Founder John Wesley Emerson | |
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Type Public (NYSE: EMR)
S&P 100 Component
S&P 500 Component Predecessor Emerson Electric Manufacturing Co. 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 Headquarters St. Louis, Missouri, United States Subsidiaries Rosemount Inc., Liebert, Ridgid, Avocent, Roxar AS Profiles | ||
Company profile emerson electric nyse emr
The Emerson Electric Company (NYSE: EMR) is an American multinational corporation headquartered in Ferguson, Missouri, United States. This Fortune 500 company manufactures products and provides engineering services for a wide range of industrial, commercial, and consumer markets. Emerson has approximately 111,000 employees and 205 manufacturing locations worldwide.
Contents
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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.
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. 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®.
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.
In 2010, U.S. MOTORS® brand sold to Nidec Motor Corporation.
On July 26, 2011, Emerson announced it would locate its Latin America headquarters in Sunrise, Florida.
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.
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.
Business platforms
Emerson is structured into 5 business platforms:
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.
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. Other main Emerson acquisitions and brands include:
NBC Heroes lawsuit
On October 2, 2006, Emerson, the company that makes the popular InSinkErator garbage disposals, 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 to retrieve a ring, and severely injuring her hand in the process. 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, which is available on NBC's website and has already aired on NBC Universal-owned cable networks United States and Sci Fi. It also sought to block NBC from using any Emerson trademarks in the future. Emerson is an appliance market competitor with General Electric, the owner of NBC at the time of the show's airing.
On February 23, 2007, the case against NBC was dropped. NBC Universal and Emerson Electric reached an agreement to settle the lawsuit outside of court.