Emerson Electric Co. reports developments for a global automation business focused on industrial software, control systems, measurement, valves, and related automation technologies. Company news regularly covers quarterly results, outlook updates, dividends, investor presentations, board changes, and portfolio actions tied to its automation-focused operating model.
Product and customer updates include AspenTech industrial software and AI capabilities, the DeltaV™ and Ovation™ Automation Platforms, cybersecurity collaborations for operational technology environments, and automation work for power, water, renewable energy, carbon capture, and other critical infrastructure applications.
Emerson (NYSE: EMR) has secured a $14 million contract for automation technologies at the new Azeri Central East offshore platform in the Caspian Sea. Acting as the main automation contractor, Emerson will implement its Project Certainty methodologies and digital solutions to enhance project execution, which is expected to assist BP in fast-tracking the project for 2023. Key offerings include digital twin solutions and cloud engineering services that aim to reduce costs and accelerate engineering timelines. The project builds on prior successful collaborations between BP and Emerson.
Emerson (NYSE: EMR) is set to report its fourth quarter and full-year results on November 3, 2020, before the market opens. Following the announcement, senior management will conduct an investor conference call at 2:00 p.m. Eastern Time. Interested parties can access the call and related presentation materials through Emerson's Investor Relations webpage. A replay will be available for three months post-call.
Emerson has elected W.H. (Bill) Easter III to its board of directors, as announced by CEO David N. Farr. Easter, formerly the chairman and CEO of DCP Midstream LLC, brings significant experience in the energy sector, having overseen substantial growth during his tenure. He also has a long history with ConocoPhillips and currently serves on the boards of Delta Airlines and Grupo Aeroméxico. At Emerson, he will be involved in the Compensation and Finance Committees, adding valuable perspectives aimed at enhancing shareholder value.
Emerson (NYSE: EMR) has successfully acquired Open Systems International, Inc. (OSI Inc.) for $1.6 billion in cash. OSI Inc. specializes in operations technology software, aiding the global power industry in optimizing energy efficiency and integrating renewable sources. This acquisition enhances Emerson's existing $1 billion software portfolio, leveraging OSI's technology with Emerson's Ovation control system to enhance grid stability and efficiency. OSI, based in Minneapolis, employs approximately 1,000 people globally.
Emerson (NYSE: EMR) has successfully acquired Progea Group, a leader in industrial IoT, analytics, and SCADA technologies. This acquisition enhances Emerson's software and control portfolio, enabling streamlined manufacturing and infrastructure automation. Progea's capabilities will help customers lower costs and facilitate digital transformation by reducing reliance on multiple vendors. The integration is expected to improve equipment efficiency and support programmable logic controller (PLC) applications in various markets. Progea, based in Modena, Italy, has approximately 55 employees.