Emerson renames EGS Electrical to Appleton Group upon the close of acquisition
Emerson announced it has completed the acquisition of SPX Corporation’s 44.5 % minority interest in EGS Electrical Group, giving it 100 % ownership of the business.
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Emerson announced it has completed the acquisition of SPX Corporation’s 44.5 % minority interest in EGS Electrical Group, giving it 100 % ownership of the business.
In a joint venture with SPX since 1997, Emerson was responsible for operational management and control. Results for the business, which had annual revenues in 2013 of more than $ 500 million, have been consolidated in Emerson’s Industrial Automation segment.
In their announcement in December, Emerson stated this transaction will allow them to focus on the growth opportunities in the oil, gas and chemical industries. The company restructuring has already begun with the company being renamed to Appleton Group after its most known brand.
Source: Emerson
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