Emerson Acquires Marine Valve Supplier

Engineering firm Emerson Electric Co. has acquired marine valve supplier Damcos Holding AS, the AP reported Financial terms of the deal were not disclosed. Damcos Holding supplies valve remote controls and tank monitoring equipment to the marine and shipbuilding industries. Damcos will become part of Emerson's process management business, which helps companies automate their production and processing systems. Emerson bought the company from British investor 3i Group PLC, Danish valve manufacturer Danfoss AS and the Damcos management team. Source: AP