ST. LOUIS--Emerson (NYSE: EMR) has agreed to sell its Heating Products business to NIBE Industrier AB. Terms of the agreement were not disclosed. The sale is expected to close by September 30, 2011.
Emerson Heating Products, primarily a North American appliance components business that was established in 1917, is a global leader in heat-related solutions for appliance manufacturing industries including the cooking, dishwasher, and water heater segments. The business has annual sales of approximately $75 million with about 1,100 employees in Murfreesboro, Tenn, USA; Nuevo Laredo, Mexico; and Shenzhen, China.
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions to customers in industrial, commercial, and consumer markets through its network power, process management, industrial automation, climate technologies, and tools and storage businesses. Sales in fiscal 2010 were $21 billion. For more information, visit www.Emerson.com.
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