Emerson to spin off Network Power
Engineering technology provider Emerson has confirmed its previously declared intention to spin off its Network Power business, which will be named Vertiv.
Filing an initial Form 10 Registration Statement, Emerson outlined its intent to spin off 100% of outstanding common shares to shareholders in a step due to be completed by September 30, 2016.
CEO David N. Farr said the spinoff would "sharpen Emerson's focus on high-growth markets,"
Vertiv specializes in designing, manufacturing and servicing mission-critical infrastructure technologies for applications in data centers, communication networks and commercial/industrial environments.
The company provides lifecycle management services and solutions for deploying, maintaining and optimizing these products. In addition, Vertiv provides infrastructure management, monitoring, controls and software solutions.
Emerson is comprised of five business segments: process management, industrial automation, network power, climate technologies, and commercial & residential solutions.
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