Emerson Electric Company

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Emerson Electric Company

logo
legal form Corporation
ISIN US2910111044
founding 1890
Seat Ferguson , United States
management David N. Farr , CEO
Number of employees 76,500
sales $ 15.3 billion
Branch Conglomerate
Website www.emerson.com
As of September 30, 2017

Emerson Electric Company is a multinational conglomerate based in Ferguson , Missouri, USA . The Fortune 500 company provides engineering services and products to a wide range of industrial, commercial, and consumer markets.

The company is one of the largest energy technology manufacturers in the USA with around 255 plants in 150 countries. In 2017, 76,500 people were employed worldwide.

history

Emerson was founded in St. Louis in 1890 as Emerson Electric Manufacturing Co. by Civil War veteran Jon Wesley Emerson . First, electric motors were made based on a patent from the two Scottish brothers Charles and Alexander Meston. In 1892, it became the first company in the United States to sell electric fans . The product portfolio was quickly expanded to include sewing machines , dental drills and power tools .

During the Second World War , under the direction of Stuart Symington, the company became the largest manufacturer of aircraft armaments. Symington was the first United States Secretary of the Air Force 1947-1950 , 1953-1976 Democratic Senator for the state of Missouri and a candidate for the American presidential election of 1960.

In 1954 W. R. "Buck" Persons was appointed chairman of the board. Under his leadership, Emerson began to diversify its product line through the acquisition of 36 different companies. When he retired in 1973, Emerson employed more than 31,000 people in 82 group companies, and sales topped the $ 1 billion mark for the first time.

Charles F. Knight was CEO from 1973 to 2000 and also Chairman of the Board from 1974. His tenure was characterized by a rigorous planning process, new product and technology developments, acquisitions and joint ventures as well as international growth.

David N. Farr has been CEO since 2000 and also Chairman of the Board of Management since 2004.

In 2005, Emerson opened its European headquarters for air conditioning units in Aachen . There is a plant for this in neighboring Welkenraedt .

Emerson executives met with the President and Government Agencies of Costa Rica on January 30, 2008 and negotiated major investments in Latin America, with a focus on Costa Rica. The plans for this investment are to hire more than 500 engineers over a four-year period.

On July 26, 2011, Emerson announced that it will be opening its Latin American headquarters in Sunrise, Florida .

The Emerson Network Power division was sold to Platinum Equity on December 1, 2016 and renamed Vertiv.

Corporate structure

Condenser of an air conditioning system from Emerson in Sofia

The company offers its products and services in four main business areas:

  1. Emerson Process Management
  2. Emerson Industrial Automation
  3. Emerson Climate Technologies
  4. Emerson Commercial & Residential Solutions

numbers

The fiscal year ends in September of that year.

Fiscal year Sales
in million US $ 		Employee
1998 13,236 111,800
1999 14,022 116,900
2000 15,118 123,400
2001 15,078 124,500
2002 13,496 111,500
2003 13,635 106,700
2004 15,226 107,800
2005 16,902 114,200
2006 19,734 127,800
2007 22,131 137,700
2008 24,807 140,700
2012 24,412 134,900
2013 24,669 131,600
2014 24,537 115,100
2015 22.304 110,800
2016 14,522 103,500
2017 15,264 76,500

literature

  • Charles F. Knight, Davis Dyer: Performance Without Compromise - How Emerson Consistently Achieves Winning Results . 1st edition. Harvard Business School Press, 2005, ISBN 978-1-59139-777-9 .

Web links

Commons : Emerson Electric  - collection of pictures, videos and audio files

Individual evidence

  1. ↑ a b c Annual Report 2017
  2. ^ A b Edwards, Greg: " $ 60 million in data centers coming online at Emerson ." St. Louis Business Journal .
  3. ^ Emerson Completes Sale of Network Power to Platinum Equity. Retrieved March 10, 2017 .
  4. ^ Emerson Network Power Rebrands As Vertiv, Appoints New CEO . ( vertivco.com [accessed March 10, 2017]).
  5. ↑ Emerson Annual Report 2008  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. Page 52ff.@1@ 2Template: Dead Link / www.emerson.com