St. Louis -- Emerson (NYSE: EMR) announced that it has completed its acquisition of Chloride Group PLC, which now joins global product brands within Emerson Network Power. The acquisition helps drive Emerson’s long-term global growth strategy for uninterruptible power supply (UPS) and integrated data center solutions. As previously announced, the purchase price was approximately $1.5 billion.
Chloride’s UPS technology, strong European presence and leading service and custom power solutions across a wide range of applications complements Emerson Network Power’s other leading brands and businesses, including Liebert, Avocent, Energy Systems, Knürr, ASCO and Aperture.
“We’re excited today about the opportunities and options now open to our customers with the addition of the Chloride business,” said Ed Feeney, Emerson executive vice president and business leader of Emerson Network Power. “Chloride is a great company, with a leading European position and strong industrial sector relationships. This complements everything we do.”
Peter Loconto, president of Emerson Network Power’s Energy Systems business, has been named to lead the new Emerson Network Power European organization. Reporting to Loconto will be the Emerson Network Power divisions in Europe, as well as the newly acquired Chloride business, which will be led by Tim Cobbold, currently Chloride’s chief executive.
“Service has been an essential strength of Chloride and we can assure customers that they will continue to get the same great quality and high levels of support and service that they received from Chloride,” Loconto said.
Chloride employs over 2,500 people across 23 countries, including more than 400 employees in the UK. The business has assembly and test facilities in Italy, France, U.S. and India in addition to R&D facilities in India, Germany and Italy and a manufacturing joint venture in China.
Emerson already has a strong engineering, R&D, manufacturing and sales presence in Europe, with about $4.3 billion sales, about 24,000 employees and approximately 70 manufacturing locations in the region. In 2009, Emerson Network Power global sales were $5.5 billion, and its sales in Europe in 2009 were about $900 million, with about 3,200 employees, more than 300 E&D engineers and 10 manufacturing locations in the region.
