Knight oversees a series of acquisitions totaling $2.5 billion.It was the first of several advanced technology centers the company opens to support new product development. The Emerson Motor Technology Center is established to support engineering and innovation in advanced motor design.In the 1980s, Emerson moves into the international arena, investing abroad to meet customers’ needs in expanding markets. Under Knight’s leadership, Emerson develops its best-cost producer strategy to meet the challenge of low-cost offshore competition.Over the next 20 years, Emerson continues to expand through cornerstone acquisitions such as Rosemount (process control instruments) in 1976, Copeland (compressors for air conditioning and refrigeration systems) in 1986, Liebert (uninterruptible power and precision cooling systems) in 1987 and Fisher Controls (process control valves and regulators) in 1992.Knight defines a new corporate strategy focused on new product and technology development, acquisitions and joint ventures and international growth. (Chuck) Knight succeeds Persons as CEO and builds on the solid foundation laid by his predecessor. Under Person’s leadership, the company grows from two manufacturing plants, 4,000 employees and $56 million in sales in 1954 to become an emerging global company with 82 manufacturing plants, 31,000 employees and $800 million in sales in 1973.Persons institutes a strong corporate focus on cost reductions, quality improvements and formal planning.Electrical Motors, Ridge Tool, and InSinkErator.
Over the next 15 years, Persons targets high-growth markets and diversifies the company’s business portfolio, acquiring 36 companies during his tenure, including White-Rodgers, Therm-O-Disc, U.S.He retools and decentralizes Emerson’s manufacturing base and begins a continuing process of diversification. Led by Person’s focus on research and development and creating foreign markets, Emerson is reborn. “Buck” Persons is recruited as president. Upon the sudden death of Oscar Schmitt, William Snead assumes the presidency of Emerson until new, long-term management can be secured.
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