Emerson also will explore strategic alternatives for its motors and drives, power generation and remaining storage businesses. In addition, the company will conduct a complete review and assessment of its corporate services and structure to bring them into alignment with its smaller scale and sharper focus, officials said.
The spinoff of Network Power will result in two separate companies with distinct strategies and investment profiles. As a publicly traded company, Network Power will be a stand-alone provider of thermal management, A/C and D/C power, transfer switches, services and infrastructure management systems for the data center and telecommunications industries.
Officials said the various transactions are expected to be substantially completed by September 2016.
Emerson Climate Technologies is constructing a new $35 million innovation center, dubbed “The Helix,” on the University of Dayton campus. The 40,000-square-foot research center on a five-acre lot at the southwest corner of West Stewart and South Main streets in Dayton will develop next-generation heating, ventilation, air conditioning and refrigeration technology.
Parent company Emerson had revenue of $24.5 billion in fiscal 2014 and employs about 115,000 workers worldwide, including 1,700 in the greater Sidney area.
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