Greenlee

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Edward Monser, the current President, retires at the end of September after serving 37 years. Monser joined as an engineer.........

Edward Monser, the current President, retires at the end of September after serving 37 years. Monser joined as an engineer.........

in 1981 to Emerson in Rosemount and has completed many areas at Emerson and has been instrumental in various committees before being appointed President of the Company in 2010.

His successor will be Michael Train, who has been with Emerson for 27 years and was mainly responsible for the company in the Asian-Pacific area. Since 2016, he has been responsible for the "Automation Solutions" division and now assumes the office of CEO and President.

We reported on Emerson in April when the acquisition of Greenlee and Klauke became known. At the end of the year, Emerson was on everyone's lips as they were eager to take over Rockwell Automation, but Rockwell remained firm (we talked about it on electro-insider).

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Textron, which focuses on aerospace, has announced that it has sold its Tools & Tests  division to Emerson for approx. USD  810 m (EUR  655 m).

Textron, which focuses on aerospace, has announced that it has sold its Tools & Tests  division to Emerson for approx. USD  810 m (EUR  655 m).

Included in the sale are all brands belonging to the Tools & Tests section, i.e. Greenlee, Greenlee Communications, Greenlee Utility, HD Electric, Klauke, Sherman + Reilly and Endura.

The transaction has yet to be approved by the various competition authorities, with a conclusion expected in the third quarter of 2018.

The proceeds will be used to fund additional share repurchases.

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