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Non-Tech : Emerson (EMR)
EMR 132.73-1.9%3:59 PM EST
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To: JakeStraw who wrote (10)8/23/2002 8:53:19 AM
From: JakeStraw  Read Replies (1) of 105
 
Emerson Purchases Swiss Toolmaker Von Arx AG
Technology Acquisition Strengthens Ridge Tool Leadership in Press-Type Connections
biz.yahoo.com
ST. LOUIS--(BUSINESS WIRE)--Aug. 23, 2002--Emerson (NYSE: EMR) announced today that its Ridge Tool division has acquired Von Arx AG of Switzerland, a leading manufacturer of tools for solderless press-type connections in plumbing and heating systems.

"Because solderless press-type copper connections reduce costs by dramatically speeding and simplifying installation, they have gained wide acceptance in Europe and are growing rapidly in the U.S. and Asia," said Pat Sly, executive vice president in charge of Emerson's tools business. "This acquisition strengthens Ridge Tool's global leadership position by addressing this growing market segment."

This is Emerson's second acquisition of press-joining technology. Last year, the company acquired Novartec, a Liechtenstein based developer of pressing tools/technology, and the company has identified this market segment as a significant growth opportunity.

Von Arx' proprietary tools are currently sold by Emerson's Ridge Tool as the ProPress(TM) System in the U.S. and Europe through a partnership with Viega GmBH, a German-based manufacturer of plumbing systems which supplies the couplings used in ProPress connections. That partnership will be unaffected by this acquisition.

Ridge Tool is the leading manufacturer of professional quality pipe and tube working tools, with sales in more than 75 countries.
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