Emerson Unveils Its Headquarters Location
Date Posted: February 14, 2023
Posted In: News, Projects,
From St. Louis Business Journal: Ferguson-based Emerson Electric (NYSE: EMR) will keep its headquarters in St. Louis, the company said Wednesday.
Emerson’s announcement, which came as it shared financial results for the first quarter of fiscal 2023, comes after it announced in October it has sold its headquarters in Ferguson and would search for a new headquarters both within and outside of St. Louis.
Emerson did not share details in the news release about its review process or a timeline regarding its search for a new headquarters locally. Emerson has been based in St. Louis since its founding 1890.
“I think we’re all pretty excited with the decision and the process that we went through,” Karsanbhai said Wednesday morning during a call with analysts.
The company announced Oct. 31 the sale of its Climate Technologies business to private equity giant Blackstone in a deal that values the business at $14 billion, gives Emerson a minority stake and includes the sale of the company’s Ferguson headquarters at 8000 W. Florissant Ave. Karsanbhai said following that deal that Emerson’s search for a new headquarters would include both St. Louis and locations elsewhere.
In a statement Wednesday, economic development group Greater St. Louis Inc. celebrated Emerson’s decision, saying it has been engaged with Emerson as the company conducted its headquarters review.