Emerson Electric plans to spin off its network power business as a separate publicly traded company and will consider options for several other businesses. Emerson owns Kato Engineering, which makes large generators, in North Mankato, Minnesota.
This past March, Kato Engineering laid off 80 of its 340 employees because a decline in the oil-drilling industry cut into business for the company’s generators.
St. Louis-based Emerson intends to focus on its process management and industrial automation businesses, which make products like measurement devices, valves and wireless transmitters. It also will focus on its commercial and residential business, which make plumbing tools, wet and dry vacuums, and food waste disposals. The company also plans to review its overall corporate services and structure. It intends to complete those moves by September 30, 2016.