EMR - Emerson accelerates factory automation capabilities with agreement to buy Afag
2023-08-17 07:56:23 ET
- Emerson ( NYSE: EMR ) Thursday announced a definitive agreement to acquire Afag Holding AG, which provides electric linear motion, feeding and handling automation solutions.
- Headquartered in Zell, Switzerland, Afag serves customers in attractive, growing end segments including battery manufacturing, automotive, packaging, medical, life sciences and electronics.
- The electric linear motion segment expands Emerson's served market by more than $9 billion and is expected to grow mid-single digits annually, supporting Emerson's long-term, profitable organic growth.
- "Afag brings exciting technology that will enable Emerson to accelerate growth in our existing $900 million factory automation business," said Ram Krishnan, chief operating officer of Emerson.
- EMR -0.22% premarket to $95.8
- Source: Press Release
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Emerson accelerates factory automation capabilities with agreement to buy Afag