EMERSON
CLIMATE TECHNOLOGIES ACQUIRES LEADING ASIAN COMPRESSOR MANUFACTURER
Company
purchases partner’s 51 percent stake in long-time joint business
venture
ST. LOUIS,
September 6, 2006 – Emerson Climate
Technologies, a business of Emerson (NYSE: EMR), announced today
that it has purchased Kirloskar Copeland Limited (KCL). The company
has partnered with Kirloskar Brothers Limited (KBL) in India since
1993, operating KCL as a joint business venture. KCL is India’s
leading compressor manufacturing company.
Emerson’s
purchase of KBL’s 51 percent stake in the KCL venture makes Emerson
the manufacturer’s sole owner. This acquisition strengthens
Emerson’s position in the Asian HVACR marketplace and adds
manufacturing and engineering resources in the high-growth Indian
market.
"Asia holds
many wonderful opportunities to grow and expand our business," said
Tom Bettcher, Emerson executive vice president and business
leader of Emerson Climate Technologies. "We’ve been doing business
in India for more than a decade as part of our KCL joint venture.
Acquiring sole ownership of KCL positions us well to meet the
demands of the Asian market."
Emerson
Climate Technologies will continue to run its facilities at their
present locations in Karad and Atit, India.
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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
GoToEmerson.com.
About Emerson Climate Technologies
Emerson Climate Technologies, a business of
Emerson, is the world’s leading provider of heating, ventilation, air
conditioning and refrigeration solutions for residential, industrial and
commercial applications. The group combines best-in-class technology
with proven engineering, design, distribution, educational and
monitoring services to provide customized, integrated climate-control
solutions for customers worldwide. Emerson Climate Technologies’
innovative solutions, which include industry-leading brands such as
Copeland Scroll and White-Rodgers, improve human comfort, safeguard food
and protect the environment. For more information, visit
EmersonClimate.com.
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