Emerson Electric Co. (EMR: Quote) said it has acquired the Marine Container and Boiler business of Johnson Controls, Inc. (JCI: Quote). This enables Emerson Climate Technologies to expand its refrigeration technology and solutions offerings in the global transportation sector. Terms of the acquisition were not revealed.
Emerson noted that the new Emerson offerings will be known as Transportation Solutions within the Retail Solutions business of Emerson Climate Technologies.
"The addition of marine container monitoring and control allows us to provide shipping companies and terminals with enhanced capabilities in asset management, system optimization, and predictive diagnostics throughout the full range of the transportation supply chain," said Mark Dunson, president, Retail Solutions, Emerson Climate Technologies. "The acquisition is a perfect fit with our existing Retail Solutions business, expanding the capabilities we're able to provide our customers."
The Marine Container and Boiler business was part of the Johnson Controls Marine & Navy organization. The remaining businesses within the Marine & Navy organization are not part of this transaction and will continue to operate under Johnson Controls.
| || |
| To receive FREE breaking news email alerts for Emerson Electric Co. and others in your portfolio|
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org