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Emerson Agrees To Purchase Remaining Stake In EGS Electrical Group From SPX Corporation

2013-12-09 07:43:19| chemicalonline News Articles

Emerson (NYSE: EMR) today announced that it has signed an agreement to acquire SPX Corporation’s 44.5 percent minority interest in EGS Electrical Group, giving it 100 percent ownership of the business. Emerson and SPX have jointly held the business since 1997, with Emerson responsible for operational management and consolidation of results in its Industrial Automation segment. The business had annual revenues in 2013 of more than $500 million. “We are excited for EGS to

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