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In The News:

Emerson Agrees to Sell Motors and Appliance Controls Business

After a six-month evaluation of the business, St. Louis, MO-based Emerson (NYSE: EMR) has agreed to sell its Motors and Appliance Controls businesses to Nidec Corporation.

Nidec will retain existing facilities and current management and employees. Nidec will also operate these businesses from a headquarters building on the Emerson campus that currently is home to the Motor Technology Center.

Included in the sale are two Emerson Motor Company businesses – Emerson’s Commercial and Industrial Motors (CIM) and Emerson Appliance Motors and Controls (EAMC). Combined, these businesses accounted for more than $800 million in sales in fiscal 2009.

Emerson will continue to operate its hermetic motors business, which serves Emerson Climate Technologies’ Copeland Scroll compressors, and also will continue to operate the large motor business based in Europe (Leroy-Somer) as well as Emerson Air Comfort Products in the U.S., which makes the popular Emerson Ceiling Fan.

Nidec, based in Kyoto, Japan, is an $8 billion precision manufacturer of small and medium-size motors and fans for IT/consumer electronics, automobiles, home appliances, and industrial applications. The company also manufactures electronic/optical components and machinery.

Emerson sales in fiscal 2009 were $20.9 billion.

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