Emerson

The Fortune 500 company manufactures products and provides engineering services for industrial, commercial, and consumer markets.

Categories

Industrial Manufacturing  

#323

Rank

$52.63B

MarketCap US

US United States

Country

Summary

Emerson Global is a multinational technology and engineering company that provides a wide range of products and services across various industries. With its headquarters in St. Louis, Missouri, the company offers automation solutions, climate technologies, electrical products, life sciences, measurement and analytical instruments, process systems and solutions, professional tools, and valves and actuators.

Emerson Global is known for its commitment to sustainability and ethics, and has been recognized as one of the "World's Most Ethical Companies" by Ethisphere Institute for 14 consecutive years. The company has also received numerous awards and recognition for its innovative products and solutions.


History

1892: In 1892, Herbert L. Parker, a Chicago railroad man, recognized the company's potential and bought Judge Emerson's controlling interest. In 1892, it became the first to sell electric fans in the United States.

1920: In 1920, Parker was elected chairman of the board and T.M. Meston, the founders' younger brother, became president.

1924: The job allowed Symington and Eve [Wadsworth] to be married in 1924. Parker became president and general manager of Emerson, supervising the company's steady expansion until his death in 1924.

1930: In 1930, Symington convinced General Robert E. Wood, president of Sears, Roebuch and Company, to market the radios his company produced in return for 49 percent of the company stock.

1939: Calling upon his previous connection with General Wood, Symington convinced him that Emerson could make small motors for Sears. As a result, the company, which had been running in the red, began showing a profit in February 1939.

1940: Starting in about 1940, Emerson began selling their motors through Sears, Roebuck & Co.

1945: In 1945, Symington left the company to pursue a career in politics, boosted in no small part by the reputation he had gained as head of Emerson during the war.

1947: Emerson fell upon hard times again after the war, as defense contracts fell drastically, slipping to a low of $1.5 million in 1947.

1948: And starting in 1948 (and perhaps earlier) they made a few woodworking machines for Sears Roebuck. Starting in about 1940, Emerson began selling their motors through Sears, Roebuck & Co. For example, the 1948 Craftsman catalog features the Model 100 tablesaw as "Emerson saws"; examples of this saw have model numbers beginning with 113, which corresponds to Emerson Electric Co.

1953: Wallace R. "Buck" Persons is named president and begins focusing on the firm's electric motor business to attract new customers.

1954: David Farr retires after 20 years as CEO. Lal Karsanbhai is named CEO. Karsanbhai is only the company’s fourth CEO since 1954.

1956: The Air Force modernizes its Bomber Fleet; military contracts account for 30 percent of sales.

1958: Emerson begins an acquisition program.

1962: Emerson bought all of King-Seeley Corp.'s design patents, tooling, and parts for Sears, Roebuck & Co. 1962: Company begins to shift focus away from defense contracting. In 1962, acquired United States Electrical Manufacturing Company as the United States Electrical Motors Division, including the brand United States Motors.

1964: Emerson began production of machines in 1964.

1967: It also shortened its company name from Emerson Electric Co. to Emerson, signaling the firm's expansion from an electronics firm to a global technology and engineering firm. It adopted a new branding strategy, changing its corporate logo for the first time since 1967.

1968: In 1968, it acquired the InSinkErator company.

1969: The wisdom of this move was underscored in 1969 when, with almost no warning, the defense department canceled Lockheed Aircraft's huge Cheyenne helicopter program, for which Emerson was the largest subcontractor.

1973: Charles F. (Chuck) Knight succeeds Persons as CEO and builds on the solid foundation laid by his predecessor. When he retired in 1973, the company had 82 plants, 31,000 employees and $800 million in sales.

1975: The company entered the electric-utility supply business for the first time in 1975 with the purchase of A.B. Chance Company.

1986: In December 1986, the company purchased Hazeltine, Inc., a leader in state-of-the-art defense electronics components and systems.

1987: In March 1987, Emerson acquired Liebert Corporation, a maker of computer support products.

1988: However, in 1988, two officials at the newly acquired Hazeltine unit were indicted on charges of fraud. In 1988, the company posted its 31st consecutive year of earnings growth, a record that made the company a perennial Wall Street favorite.

1989: The Emerson Motor Technology Center is established to support engineering and innovation in advanced motor design. Emerson and Hazeltine cooperated with authorities, and in early 1989 Hazeltine pleaded guilty to the felony charge.

1990: Leroy-Somer Canada Ltd., Granby, QC, was purchased by the U. S. Electrical Motors division of Emerson. In fact, in 1990 alone, the firm acquired ten companies including French concern Leroy-Somers SA and CESET, an Italian manufacturer of appliance motors.

1992: In 1992, the firm entered into a joint venture with Germany-based Robert Bosch GmbH to produce power tools. 1992: Fisher Controls International is acquired; sales reach $7.7 billion.

1995: By 1995, revenues had increased to over $10 billion.

1996: A Fortune article claimed that the firm's "marketing and sales forces, constrained by tight budgets, were missing critical opportunities.

1997: Net sales exceed $12.5 billion.

1998: Emerson lost their Sears contract around 1998, but they began making the Ridgid line of stationary power tools for Home Depot.

1999: On December 15, 1999, Emerson Electric agreed to acquire Jordan Industries Inc.'s telecommunications equipment business for $440 million.

2000: During 2000, the firm was ranked among the 100 Best-Managed Companies by IndustryWeek magazine for the fifth year in a row.

2001: It then went on to purchase Avansys Power Co. in October 2001 for $750 million--Emerson claims it was the largest private acquisition in China by a foreign company. 2001 Emerson makes two key moves in the fast-growing Asian markets, purchasing Avansys, China’s leading network power provider, and forming Emerson Network Power India Private Ltd. With businesses in over 150 countries, the company's international sales reached $6.2 billion in 2001--40 percent of company sales.

2002: Emerson launches its first corporate advertising campaign with tagline “Emerson.

2004: Farr named chairman of Emerson’s board of directors, upon the retirement of Chuck Knight.

2005:  Emerson sales reach $17.1 billion, an 11 percent increase over the prior year.

2006: Emerson airs its first-ever TV commercials to spotlight the company’s global capabilities.

2007: Emerson strengthens its network power and its storage solutions businesses with the acquisition of, respectively, Motorola’s embedded communications computing business and Lionville Systems, a leading manufacturer of point-of-care carts for healthcare facilities.

2009: Emerson’s new global data center in St Louis earns two industry recognitions for environmental responsibility: LEED® Gold certification from the United States Green Building Council and a 2009 Beyond Green™ High-Performance Building Award from the Sustainable Buildings Industry Council.

2010: In 2010, the United States Motors brand sold to Nidec Motor Corporation.

2011: On July 26, 2011, Emerson announced it would locate its Latin America headquarters in Sunrise, Florida. Emerson sales are up 15 percent in fiscal 2011 to a then-record level of $24.2 billion.

2014: Emerson assumes full ownership of Appleton Group (formerly a joint venture called EGS Electrical Group) which is folded into Emerson Industrial Automation.Emerson completes its 58th consecutive year of increased dividends in fiscal 2014.

2016: On December 1, 2016, Platinum Equity acquired the Emerson Network Power business for over $4 billion and rebranded it Vertiv.

2018: In July 2018, Emerson completed the purchase of Textron Tools and Test Businesses for $810 million (Including Greenlee, Klauke, HD Electric, and Sherman + Reilly).

2020: On April 1, 2020, Emerson acquired American Governor Company to boost its presence in the hydropower controls systems market. Emerson is named 2020 ENERGY STAR® Partner of the Year by United States Environmental Protection Agency and United States Department of Energy for its top-rated Sensi™ smart thermostat suite.

2021: David Farr succeeded him as chairman, who was also the CEO until 2021.


Mission

Emerson Global's mission is to help its customers meet the world's critical needs by providing innovative technology solutions that improve the performance, efficiency, and safety of their operations. The company aims to achieve this mission by:

Delivering customer-focused solutions: Emerson Global is committed to understanding its customers' needs and providing innovative solutions that help them achieve their goals.

Investing in research and development: Emerson Global invests heavily in research and development to create new technologies and solutions that address the world's critical needs.

Empowering its employees: Emerson Global believes that its employees are its greatest asset, and is committed to providing them with the resources and training they need to excel in their roles.

Operating with integrity: Emerson Global operates with integrity, honesty, and transparency, and is committed to ethical business practices and social responsibility.

Driving sustainability: Emerson Global is committed to sustainability and reducing its environmental impact. The company has set ambitious sustainability goals, including reducing greenhouse gas emissions, conserving water, and promoting circular economy principles.


Vision

Emerson Global's vision is to be a global leader in providing innovative technology solutions that enable its customers to solve the world's critical challenges. The company's vision is centered on three key pillars:

Customer success: Emerson Global aims to help its customers succeed by providing innovative technology solutions that improve their performance, efficiency, and safety.

Innovation: Emerson Global is committed to driving innovation and developing new technologies and solutions that address the world's critical needs.

Environmental sustainability: Emerson Global recognizes the urgent need to address climate change and other environmental challenges, and is committed to promoting sustainability throughout its operations and value chain.


Key Team

Frank J. Dellaquila (CFO)

James S. Turley (Board Member)

Matthew S. Levatich (Board Member)

Arthur F. Golden (Board Member)

Clemens A.h. Boersig (Board Member)

David Farr (Chairman)

Joshua B. Bolten (Board Member)

Lisa Flavin (Chief Compliance Officer & VP Audit)

R. R. Krishnan (EVP & COO)


Recognition and Awards
Forbes America's Best Employers: Emerson Global was named one of "America's Best Employers" by Forbes magazine in 2020 and 2021. Ethisphere World's Most Ethical Companies: Emerson Global has been recognized as one of the "World's Most Ethical Companies" by Ethisphere Institute for 14 consecutive years. Frost & Sullivan Technology Leadership Award: Emerson Global's automation solutions division received the "Technology Leadership Award" from Frost & Sullivan in 2019. CRN Tech Innovator Award: Emerson Global's data center infrastructure management (DCIM) software received the "Data Center Management" award at the CRN Tech Innovator Awards in 2020. Energy Efficiency Leader Award: Emerson Global's compressors division received the "Energy Efficiency Leader Award" from the Compressed Air and Gas Institute in 2019. Control Engineering Engineers' Choice Award: Emerson Global's measurement and analytical instruments division received the "Engineers' Choice Award" from Control Engineering magazine for its vortex flow meter technology in 2021. Plant Engineering Product of the Year Award: Emerson Global's automation solutions division received the "Product of the Year" award from Plant Engineering magazine for its industrial wireless pressure transmitter in 2020.

Products and Services

Automation Solutions: Emerson Global provides automation solutions for industrial and commercial customers, including process control systems, measurement and analytical instruments, and automation software.

Climate Technologies: Emerson Global offers products and services for heating, ventilation, air conditioning, and refrigeration (HVACR) systems, including controls, compressors, and sensors.

Commercial and Residential Solutions: Emerson Global provides products and services for residential and commercial building management, including heating and cooling systems, thermostats, and commercial refrigeration.

Electrical Products: Emerson Global offers electrical products, including power distribution and control equipment, lighting, and electrical components.

Life Sciences: Emerson Global provides products and services for the life sciences industry, including bioprocessing equipment, laboratory automation, and software.

Measurement and Analytical Instruments: Emerson Global produces a wide range of measurement and analytical instruments, including flow meters, pressure gauges, temperature sensors, and gas chromatographs.

Process Systems and Solutions: Emerson Global provides process systems and solutions for a variety of industries, including oil and gas, chemical, and power generation. The company offers products and services for control valves, regulators, and pressure relief valves.

Professional Tools: Emerson Global produces a variety of professional tools, including hand tools, power tools, and tool storage solutions.

Valves and Actuators: Emerson Global offers a wide range of valves and actuators for industrial and commercial applications, including ball valves, butterfly valves, and control valves.

 

 


References
Emerson
Leadership team

John Emerson (Founder)

Candace B. Kendle (Board Member)

Industries

Industrial Manufacturing

Products/ Services
Process control systems, Climate technologies, Power technologies, Industrial automation, Electric motors, Storage systems, Professional tools
Number of Employees
Above 50,000
Headquarters
Ferguson, Missouri, U.S.
Established
1890
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0000032604
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
EMR
Social Media

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Sat Feb 24 2024
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