Diversified global technology company Emerson Electric Co. (EMR) on Monday said it has acquired the Denmark-based Marine Container and Boiler business of Johnson Controls, Inc. (JCI). Terms of the acquisition were not disclosed.
The deal will help Emerson's Climate Technologies unit, which provides heating, air conditioning, and refrigeration solutions, to expand its refrigeration technology and solutions offerings in the transportation sector.
Johnson Controls' selling unit supplies controls for optimal operation of refrigerated sea containers and marine boilers. It also gives solutions that monitor and report on refrigeration conditions of marine shipping containers on land or at sea to ensure product quality and food safety.
Emerson noted that the hardware and software solutions monitor container conditions and notify shipping companies and terminals of deviations outside of optimal ranges helping them to take appropriate actions. These solutions are installed on more than 650,000 containers and 2,200 ships, which connect to a central monitoring server.
The Marine Container and Boiler business was part of the Johnson Controls Marine & Navy organization. Following the acquisition, the new Emerson offerings will be known as Transportation Solutions within the Retail Solutions business of Emerson Climate Technologies.
The company noted that the remaining businesses within Marine & Navy organization are not part of the deal and will continue to operate under Johnson Controls.
Ed Purvis, global business leader for Emerson Climate Technologies, said, "Marine container monitoring and control, combined with our compressors and diagnostic technologies that also are installed on shipping containers, opens the door for us to provide a full range of powerful solutions to help global shipping companies and transportation managers ensure their cargo is transported in optimal conditions."
Emerson added that the addition of marine container monitoring and control allows it to provide enhanced capabilities in asset management, system optimization, and predictive diagnostics throughout the full range of the transportation supply chain.
Emerson shares closed Friday's regular trading session at $52.18, up $0.31 or 0.60 percent.
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