Deal Details

Sale of Emerson Heating Products business to NIBE Industrier AB

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Summary

About

Emerson Electric Co. (“Emerson”) (NYSE:EMR) recently completed the sale of its Emerson Heating Products (“EHP”) business to NIBE Industrier AB (“NIBE”) (OM: NIBE B). Terms of the transaction were not disclosed.

EHP is a global supplier of residential and commercial electric heat-related solutions. EHP offers a comprehensive line of products designed to regulate the temperature of fluid and air in a variety of major appliance heating segments, such as cooking, dishwasher, laundry and water heater, and heating, ventilation and air conditioning (“HVAC”) applications. EHP employs approximately 1,100 people worldwide and operates through facilities in the US, Mexico and China.

Emerson, based in St. Louis, Missouri, is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial and consumer markets through its network power, process management, industrial automation, climate technologies, and tools and storage businesses.

NIBE Industrier AB, based in Markaryd, Sweden, is an international heating technology company operating through three business areas; Element, Energy Systems and Stoves. NIBE Element is a leading manufacturer of components and systems for electric heating applications.

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