Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Emerson Electric Buys Johnson Controls' Danish Marine Controls Unit

RELATED NEWS
Trade EMR now with 

Diversified global technology company Emerson Electric Co. (EMR: Quote) on Monday said it has acquired the Denmark-based Marine Container and Boiler business of Johnson Controls, Inc. (JCI: Quote). 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.

Register
To receive FREE breaking news email alerts for Emerson Electric Co. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Poverty in Latin America and the Caribbean has been reduced by almost half in the last decade, and the middle class grew by 82 million people, from 21 percent of the population in 2000 to 34 percent in 2012, according to new data released by the United Nations Development Program (UNDP). UNDP's analysis, based on data from the Center for Distributive, Labor and Social Studies (CEDLAS), highlights German consumer sentiment is set to weaken in September for the first time since early 2013 as intensified geopolitical tensions are likely to shift the economy into lower gears. The forward-looking consumer confidence index fell to 8.6 from a revised score of 8.9 in August, a survey by the market research group GfK, based on responses from 2,000 households, showed Wednesday. U.S. stocks edged higher on Tuesday, with the S&P 500 posting its first-ever finish above the 2,000 mark as strong economic data and a flurry of merger news contributed to buying interest. Led by energy stocks, the S&P 500 rose 2.1 points, or 0.1%, to 2,000.02 after touching an intraday record just...
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.