Emerson down on US housing, looks to expand global business
Emerson will continue to expand its global reach, which may help shield segments of the company’s that have been hurt by the lagging US housing market, the company’s top executive told an industry conference Wednesday.
The Ferguson-based company will aim to push its international sales to 55 percent of its total, said David Farr, Emerson’s chairman, chief executive and president, when he spoke Wednesday at the Robert W. Baird Industrial Conference in Chicago. For 2007, 52 percent of the company’s $22.6 billion in net sales were from international markets.
Weakness in the U.S. housing has touched the company’s climate technologies unit, where it makes products for heating and cooling systems, and its appliances and tools segment, for which 76 percent of total sales come from U.S. customers.
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