Emerson Accelerates Factory Automation Capabilities With Agreement to Acquire Afag
August 17, 2023 | PRNewswireEstimated reading time: 1 minute
Emerson announced a definitive agreement to acquire Afag Holding AG, an innovative leader in electric linear motion, feeding and handling automation solutions.
Headquartered in Zell, Switzerland, Afag brings state-of-the-art technology and innovation to Emerson. The transaction will enhance Emerson's capabilities in factory automation, one of the Company's four priority adjacencies, and create a leading motion portfolio combining Afag's electric linear motion solutions with Emerson's pneumatic motion technology. Afag serves customers in attractive, growing end segments including battery manufacturing, automotive, packaging, medical, life sciences and electronics. The electric linear motion segment expands Emerson's served market by more than $9 billion and is expected to grow mid-single digits annually, supporting Emerson's long-term, profitable organic growth.
"Afag brings exciting technology that will enable Emerson to accelerate growth in our existing $900 million factory automation business," said Ram Krishnan, chief operating officer of Emerson. "As discrete and hybrid customers continue to accelerate electrification across their manufacturing processes, Afag's technology is ideally suited to provide improved energy efficiency and performance gains. We look forward to combining Afag's motion capabilities with our existing pneumatic leadership, creating a unique and differentiated solution for our customers. Afag and its employees will play an important role in enhancing Emerson's strength and innovation in factory automation."
"We are excited to join Emerson and build on its existing factory automation leadership, while further expanding our global reach," said Adrian Fuchser, chief executive officer of Afag. "Our customers rely on Afag for essential, customized systems and we are energized by this opportunity to create a more comprehensive and holistic solution for their motion needs. We share Emerson's vision of providing complete solutions in essential industries and we look forward to driving continued success as part of Emerson."
The transaction is expected to close by the end of Emerson's fiscal 2023, subject to customary closing conditions, including receipt of regulatory approvals. Terms of the transaction were not disclosed. Afag will be reported in Emerson's Discrete Automation segment.
For the transaction, Bryan Cave Leighton Paisner LLP is serving as legal advisor to Emerson.
Suggested Items
Real Time with… IPC APEX EXPO 2024: Direct Imaging Equipment and Quad-wave DLP Light Engine Technology
05/03/2024 | Real Time with...IPC APEX EXPOGuest Editor Kelly Dack and MivaTek's Brendan Hogan delve into the company's innovative technologies, including direct imaging equipment and quad-wave DLP light engine technology. They highlight the benefits of direct imaging, compensation, and DART technology.
iNEMI Names Grace O'Malley CTO
05/02/2024 | iNEMIThe Board of Directors of the International Electronics Manufacturing Initiative (iNEMI) has named Grace O'Malley Chief Technical Officer (CTO).
Dubai Launches Global Blueprint for Artificial Intelligence
05/02/2024 | BUSINESS WIREDubai has launched a blueprint for Artificial Intelligence (AI), a yearly plan that will focus on harnessing the technology’s potential to improve quality of life around the world.
NextFlex Convenes the Hybrid Electronics Community at Binghamton University
05/01/2024 | NextFlexBinghamton University hosted the NextFlex hybrid electronics community on April 18 for a day of expert presentations, breakout sessions on technology and manufacturing topics, and networking.
IDTechEx Report on Quantum Technology: Nano-scale Physics for Massive Market Impact
04/30/2024 | PRNewswireThe quantum technology market leverages nano-scale physics to create revolutionary new devices for computing, sensing, and communications. Across the industry, quantum technology offers a paradigm shift in performance compared with incumbent solutions.