Emerson ups (sortways services)
 | |
| Public | |
| Traded as | |
| Industry | Electrical equipment |
| Predecessor | Emerson Electric Manufacturing Co. |
| Founded | 1890 |
| Founder | John W. Emerson |
| Headquarters | Ferguson, Missouri, U.S. |
Area served
| Worldwide |
Key people
| |
| Products |
|
| Revenue | |
| Total assets | |
| Total equity | |
Number of employees
| ~76,500[1] |
| Divisions | List of business platforms |
| Website | emerson |
The Emerson Electric Co. is an American multinational corporation headquartered in Ferguson, Missouri, United States.[2][3][4] This Fortune 500 company manufactures products and provides engineering services for a wide range of industrial, commercial, and consumer markets.[5][6] Emerson has approximately 76,500 employees[7] and 205 manufacturing locations worldwide.[8]
Contents
History[edit]
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.[9] 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®.[10]
In 1968, acquired InSinkErator company.
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.[11]
In 2010, U.S. MOTORS® brand sold to Nidec Motor Corporation.[10]
On July 26, 2011, Emerson announced it would locate its Latin America headquarters in Sunrise, Florida.[12]
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.[13]
In July 2018 Emerson completes the purchase of Textron Tools and Test Businesses for $810 million.(Including Greenlee, Klauke, HD Electric and Sherman + Reilly)[14]
Corporate governance[edit]
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).
Business platforms[edit]
Emerson is structured into 2 business platforms:[15]
- Automation Solutions
- Commercial & Residential Solutions
Environmental records[edit]
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.[16]
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