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MarketScreener Homepage  >  Equities  >  Nyse  >  Emerson Electric Co.    EMR

EMERSON ELECTRIC CO.

(EMR)
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Emerson Electric : Completes Acquisition of 7AC Technologies, Inc

11/24/2020 | 08:35am EST

Acquisition helps Emerson's customers further their sustainability goals through better air management.

Emerson (NYSE: EMR) today announced it has completed the purchase of 7AC Technologies, Inc. 7AC is a technology start-up offering an emerging approach to air conditioning technology that enables energy savings and sustainable air management.

Emerson, a longtime leader in advanced heating and cooling technologies, has been collaborating with 7AC to commercialize a new technology that enables customers such as commercial building owners and retailers to achieve desired relative humidity and temperature in a single step. The membrane-based liquid desiccant technology is flexible, fully modular and can be incorporated into various applications.

'With liquid desiccant technology, 7AC provides a one-step solution that demonstrates better energy efficiency and air quality than current best-in-class products,' said Jamie Froedge, executive president of Emerson's Commercial & Residential Solutions business. 'In response to customer needs, industry regulations and new building codes, commercial building owners can leverage this technology to easily manage the humidity, temperature, purity, and distribution of air.'

Commercial air management is a market with high growth and solutions opportunities. From industry-leading Copeland scroll compressors to the Sensi suite of smart home capabilities, including its award-winning thermostats, the addition of 7AC expands on Emerson's legacy heating, ventilation and air conditioning capabilities to provide commercial and residential customers best-in-class solutions that protect human comfort and advance energy efficiency.

7AC is headquartered in Beverly, MA.

# # #

Investor Contact: Pete Lilly 314-553-2217 | Media Contact: Casey Murphy 314-982-6220

About Emerson

Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.

Forward-Looking and Cautionary Statements

Statements in this press release that are not strictly historical may be 'forward-looking' statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the scope, duration and ultimate impact of the COVID-19 pandemic as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 17 257 M - -
Net income 2021 1 942 M - -
Net Debt 2021 4 065 M - -
P/E ratio 2021 25,7x
Yield 2021 2,38%
Capitalization 49 606 M 49 606 M -
EV / Sales 2021 3,11x
EV / Sales 2022 2,91x
Nbr of Employees 83 500
Free-Float 62,3%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 83,35 $
Last Close Price 83,34 $
Spread / Highest target 20,0%
Spread / Average Target 0,01%
Spread / Lowest Target -22,0%
EPS Revisions
Managers and Directors
NameTitle
David N. Farr Chairman & Chief Executive Officer
Michael H. Train President
Steven J. Pelch Chief Operating Officer & Executive Vice President
Frank J. Dellaquila Chief Financial Officer & Senior Executive VP
Jake Fritz Chief Information Officer & Vice President
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