Message #11 From:
NewsBot Date: January 5, 2007 12:46:00 PM
EMR News Emerson Acquires Damcos Holding A/S
AUSTIN, Texas--(BUSINESS WIRE)--Emerson (NYSE:EMR) today announced it has acquired Damcos Holding A/S
from the 3i Group PLC (UK:III) of the United Kingdom; Danfoss A/S of
Nordborg, Denmark; and the Damcos management team. Terms of the
agreement were not disclosed.
Damcos (www.damcos.com) is a leading
supplier of valve remote control systems, tank monitoring equipment, and
complete marine tank management solutions to the global marine and
offshore markets. It will immediately become part of Emerson’s
Process Management business, complementing the company’s
established marine measurement and valve actuation brands, which include
Saab Rosemount TankRadar, and Bettis and El-O-Matic actuators.
“We are excited about the addition of Damcos’
Marine Tank Management products and systems expertise to the Emerson
family,” said John Berra, president, Emerson
Process Management. “This key acquisition
further extends our leadership in process control products and services
into the Marine and Shipbuilding industry.”
Founded in 1960 and based in Naestved, Denmark, Damcos became a leading
supplier of hydraulic equipment for the local marine shipbuilding
industry. Since the early 1990s, the company has developed into a
leading, global supplier of marine actuators and integrated marine tank
management solutions. Since 2004, Damcos has had a strategic partnership
with Emerson to sell Saab Rosemount TankRadar systems to the tanker
market. Damcos has production facilities in Naestved; Ry, Denmark;
Busan, South Korea; and Shanghai, China. The acquisition includes all
Damcos’ technologies, manufacturing
facilities, and employees.
"We are very excited to be part of Emerson Process Management,”
said Ove Soerensen, president and CEO of Damcos. “Being
part of such a successful global player will allow us greater access to
marine customers and to new markets that will fuel growth well into the
future."
Emerson Process Management
Emerson Process Management (www.emersonprocess.com),
a business of Emerson, is a leader in helping businesses automate their
production, processing and distribution in the marine, oil and gas,
refining, chemical, pulp and paper, power, water and wastewater
treatment, food and beverage, pharmaceutical, and other industries. The
company combines superior products and technology with
industry-specific-engineering, consulting, project management and
maintenance services. Emerson brands include PlantWeb®,
Saab Rosemount TankRadar®,
Bettis, Hytork, El-O-Matic, Shafer, Dantorque, Fisher®,
Micro Motion®,
Rosemount®, DeltaVTM,
Ovation®, and AMSTM
Suite.
About Emerson
Emerson (NYSE:EMR), based in St. Louis, is a global leader in bringing
technology and engineering together to provide innovative solutions to
customers through its network power, process management, industrial
automation, climate technologies, and appliance and tools businesses.
Sales in fiscal 2006 were $20.1 billion. For more information, visit www.GoToEmerson.com.
PlantWeb, Saab Rosemount TankRadar, Fisher, Micro Motion, Rosemount,
DeltaV, Ovation and AMS are marks of Emerson Process Management.
