Emerson Electric To Pay $571M For JV Stake From SPX
The venture, established 1997, manufactures electrical products for industrial and extreme environments and has hit $500 million in revenues in 2013, according to Emerson. After the sale, SPX will repurchase shares and reduce its debt and Emerson will fully integrate EGS into its core business structure.
"Historically, EGS has been a high-quality, niche market participant, with sales concentrated in...
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