Emerson Electric Buys Product Lines From Circor for $84.5 Million
September 03 2019 - 8:13AM
Dow Jones News
By Colin Kellaher
Emerson Electric Co. (EMR) has acquired the Spence and Nicholson
product lines from Circor International Inc. (CIR) for about $84.5
million in cash, the companies said Tuesday.
The Spence and Nicholson lines include steam regulators, control
valves, safety relief valves, temperature regulators, steam traps
and other steam accessories and solutions.
Emerson, a St. Louis technology and engineering company, said
the acquisition adds to its portfolio of steam-system solutions for
process industries and commercial buildings.
Circor, based in Burlington, Mass., said it will use proceeds
from the sale to pay down debt, adding that it plans to focus on
its core flow-control business.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 03, 2019 07:58 ET (11:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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