Emerson Electric Co. said Tuesday it plans to spin off its network power business as part of a plan to streamline its portfolio and drive growth. The St. Louis-based company also said it will explore strategic alternatives for its motors and drives, power generation and remaining storage businesses. In addition, the company said it will conduct a review and assessment of its corporate services and structure to align them with the company's smaller scale and sharper focus. The network power business to be spun off is a provider of thermal management, A/C and D/C power, transfer switches, services and infrastructure management systems for the data center and telecommunications sectors. The spinoff and other potential transactions are expected to be substantially completed by September 30, 2016.
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