Dallas, Texas 01/08/2014 (FINANCIALSTRENDS) – Emerson Electric Co. ( NYSE:EMR) has since the first week of December claimed 44.5% stake in EGS Electric Group, following a buy-off from SPX Corporation for $571 million by first quarter of 2014. SPX followed through its strategy to tighten its market end it serves and bring in greater focus. By divesting EGS stakes, the company will now more band-width to divest operations as well as use cash on hand to lower its debt to $300 million.
Emerson Electric Co. (NYSE:EMR) has had a good run in November last as well, with its new polish deal.
Poland power plant earns $21 million
Emerson’s prestigious process management software has won $21 million contract from the Polish power plant – Belchatow. The much anticipated power plant already produces 20 % of the power the country uses and the new process management is expected to modernize flows and eventually increase production.
Emerson Electric Co. (NYSE:EMR) is expected to concentrate its technologies and expertise in turning around the Unit 2 of the plant. This project is the eleventh plant that Emerson has since been engaged to modernize in terms of equipment and processes used- control as well as monitoring systems, besides electrical systems too will be reworked by Emerson to bring the Unit on par with other units.
Emerson Electric Co. (NYSE:EMR) is a US-based Industrial technology products and services company. The company’s core expertise lies in the design and supply of products based on technology and engineering requirements catering to enterprises and industries, commercial stakeholders in the industrial equipment and component industry as well as consumer market segments as well. The company trades at $68.90levels as of Jan 7, 2014 and trends northwards in the pre-markets. The company holds a market cap of 48.58 billions and volumes equivalent to 4,025,885. Its recorded 52-week high has been $70.66 and 52-week low is $53.09. EPS is 2.76 and yield is 2.50.