Emerson Acquires Bristol Babcock
Acquisition expands portfolio of measurement and control products, technologies, and services for process industries worldwide
ST. LOUIS (March 17, 2006) - Emerson (NYSE: EMR) today announced it has acquired Bristol Babcock from FKI plc (LSE: FKI) of Loughborough, England, for $121 million. To be renamed Bristol, it becomes part of Emerson Process Management and adds industry-leading measurement and control products, technologies, and services for oil, gas, power, water, and wastewater industries worldwide.
Headquartered in Watertown, Conn., Bristol Babcock has annual revenue of approximately $80 million. Bristol Babcock (www.bristolbabcock.com) products and technologies include remote terminal units, flow computers, transmitters, and distributed process controllers. It has manufacturing facilities and offices in the United States, United Kingdom, and Canada with additional offices in Mexico, the Middle East, Australia, and China.
"Bristol will extend the Emerson product portfolio and leadership in flow measurement products and services, enabling us to offer an even broader range of value, performance and reliability to our customers," said John Berra, president, Emerson Process Management. "In addition, the Bristol Babcock management team demonstrates excellent leadership, innovation, dedication to quality and strong company performance...qualities that fit well with Emerson."
The acquisition complements the Emerson business unit's established measurement brands that include Rosemount®, Micro Motion®, Daniel®, and Mobrey®.
"This is excellent news for our company and our customers," said Jack Kelly, president of Bristol Babcock. "Emerson Process Management's market leadership in the process industry worldwide will allow us to provide a broader range of solutions, enable us to grow our business faster, and contribute to the success of other Emerson businesses as well."
About Bristol Babcock
Bristol Babcock is a worldwide leader in the supply and commissioning of products, services, and engineered systems to the oil, gas, process control, power, water, and wastewater industries.
About Emerson Process Management
Emerson Process Management (www.emersonprocess.com), a business of Emerson, is a leader in helping business automate their production, processing and distribution in the chemical, oil and gas, refining, pulp and paper, power, food and beverage, pharmaceutical and other industries. The company combines superior products and technology with industry-specific-engineering, consulting, project management and maintenance services. Inclusive of the acquisition, Emerson brands include PlantWeb®, Bristol®, Fisher®, Micro Motion®, Rosemount®, Mobrey®, Daniel®, DeltaV(TM), Ovation®, and AMS(TM) Suite.
About Emerson
Emerson (NYSE: EMR), based in St. Louis, is a global leader in bringing technology and engineering together to provide innovative solutions to customers through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses. Sales in fiscal 2005 were $17.3 billion. For more information, visit www.GoToEmerson.com.
PlantWeb, Fisher, Micro Motion, Rosemount, DeltaV, Ovation and AMS are marks of Emerson Process Management.
Contacts:
Peter Dossing, Emerson Process Management
1 (512) 832-3162, Pete.Dossing@EmersonProcess.com
Jerry Moon, Emerson Process Management
1 (512) 832-3089, Jerry.Moon@EmersonProcess.com
