June 27 (Bloomberg) -- Emerson Electric Co. is studying strategic alternatives for its power transmission solutions unit as it considers possible acquisitions or divestments.
The Florence, Kentucky-based division, with 2013 revenue of more than $600 million and 3,000 employees worldwide, makes couplings, bearings and conveying components under brands such as Browning and Jaure, Emerson said today in a statement. A decision will be announced by yearend.
Emerson, a St. Louis, Missouri-based manufacturer of equipment for power plants and technology for refrigerators, has sold units for a combined $456 million in the past five years and spent $3.5 billion on buying businesses, data combined by Bloomberg show. Chief Executive Officer David Farr said in November that he planned $1.5 billion of acquisitions in 2014.
The shares have fallen 4.9 percent this year, while the Standard & Poor’s 500 Industrials Index gained 3.1 percent.
To contact the reporter on this story: Thomas Mulier in Geneva at firstname.lastname@example.org
To contact the editors responsible for this story: James Boxell at email@example.com Cecile Daur, Molly Schuetz