Emerson Electric Company

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Emerson Electric
Type Public (NYSE: EMR)
S&P 500 Component
Industry Conglomerates
Predecessor Emerson Electric Manufacturing Co.
Founded 1890
Founder(s) John W. Emerson
Headquarters Ferguson, MO, USA
Area served Worldwide
Key people David N. Farr
Chairman of the Board
President & CEO
Products process control systems
climate technologies
power technologies
industrial automation
electric motors
storage systems
network power
professional tools
Revenue 11px $ 24.807 billion (2008)
Operating income 11px $ 3.591 billion (2008)
Net income 11px $ 2.412 billion (2008)
Total assets 11px $ 21.040 billion (2008)
Total equity 11px $ 9.113 billion (2008)
Employees 140,700 (June 2009)
Divisions List of divisions
Website Emerson.com

Emerson Electric Company (NYSE: EMR) is a major multinational corporation headquartered in Ferguson, Missouri, United States.[1][2][3] This Fortune 500 company provides engineering services for a wide range of industrial, commercial, and consumer markets.

Emerson is one of the largest conglomerate companies in the USA. As of 2008, it has a workforce of approximately 140,000 employees worldwide, with a global presence spanning 150 countries.

History

Emerson was established in 1890 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, it became the world's largest manufacturer of airplane armament. In 1947-1950 Symington became the first Secretary of the Air Force, and a Democratic U.S. Senator from Missouri in 1953-1976.

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.

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 N. Farr has served as CEO since 2000 and as chairman since 2004.

On January 30, 2008, top executives from Emerson had meetings with the Costa Rican President and government authorities to open an operation for Latin America based in Costa Rica. They are planning to hire more than 500 engineers in a period of 4 years.[citation needed]

Business segments

Emerson products, solutions and services go to market under eight business platforms:

  1. Emerson Process Management
  2. Emerson Network Power
  3. Emerson Climate Technologies
  4. Emerson Industrial Automation
  5. Emerson Appliance Solutions
  6. Emerson Storage Solutions
  7. Emerson Professional Tools
  8. Emerson Motor Technologies

Corporate achievements

  • Emerson is the largest publicly traded company (by revenue) headquartered in Missouri.
  • Emerson is ranked No. 94 on the Fortune 500 list of America's largest corporations, as ranked by revenues.
  • Emerson is ranked No. 350 on FORTUNE's Global 500 list of the world's largest companies, as ranked by revenues.
  • Emerson was awarded a record 655 patents worldwide in 2008.
  • Emerson is ranked No. 117 on the Information Week magazine's annual listing of the most innovative users of information technology in the United States (September 2008).
  • Emerson has 255 manufacturing locations, of which approximately 165 are located outside the United States.
  • Emerson was No. 15 on the Electronic Design magazine's ranking of the top 100 employers of electronic designers that have the most influence on today's engineering careers (June 2008).
  • Emerson is ranked No. 2 in Electronics Industry of FORTUNE's World's Most Admired Companies 2009.
  • Emerson is ranked No. 246 in Forbes World's Biggest Companies 2009.

Environmental record

Researchers at the University of Massachusetts 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.[4]

Corporate relationships

Emerson's acquisitions

28 September 2007 - It was announced that Emerson will acquire Motorola’s Embedded Communications Computing (ECC) business for US$ 350 million, expected to be completed by the end of 2007.[5] Other acquisitions by Emerson include:

North American distributors

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 USA 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.

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.[6]

References

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External links

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Bondhus · Bradford Tool Industries · Buck Bros. · Channellock · Cooper Hand Tools (Crescent, Lufkin, Xcelite) · Cornwell Tools · Danaher Corporation (Allen, Armstrong Tools, Easco Hand Tools, GearWrench, K-D Tools, Matco Tools) · Disston Saw Works · Eklind · Emerson (Ridgid) · Empire Level · Estwing · Felo · Fiskars (Gerber) · Gardner Bender · Gedore · Gray Tools · Hazet · Heyco · Ideal Industries (Pratt-Read, SK Hand Tools, Western Forge) · Klein Tools · Knipex · Leatherman · Lie-Nielsen Toolworks · Lisle Corporation · Newell Rubbermaid (Irwin, Lenox) · Park Tool · PB Swiss · Saltus · Sandvik · Snap-on (Bahco, CDI Torque Products, J.H. Williams Tool Group) · Stahlwille · Stanley Black & Decker (Blackhawk, Bostitch, Facom, Mac Tools, Proto, Sidchrome, Stanley Hand Tools) · Textron (Greenlee, Klauke, Paladin Tools) · Techtronic Industries (Milwaukee) · Thorsen Manufacturing · Toptul · Vaughan · Victorinox (Wenger) · Wera Tools · Wescott · Wiha Tools · Witte Tools · Wright Tool
Historic
House brands
Power tool manufacturers
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  1. ↑ "Contact Us." Emerson Electric Company. Retrieved on August 18, 2009.
  2. ↑ Edwards, Greg. "$60 million in data centers coming online at Emerson." St. Louis Business Journal. Friday August 29, 2008. Retrieved on August 18, 2009.
  3. ↑ "Mumbai, India." U.S. Census Bureau. Retrieved on August 18, 2009.
  4. ↑ [1]
  5. ↑ Emerson to Acquire Motorola’s Embedded Communications Computing Business
  6. ↑ Goetzl, David (2007-02-23). "Emerson Drops Product Placement Case Against NBC". MediaDailyNews. Retrieved 2007-02-23. 
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