Business

Emerson to sell InSinkErator to Whirlpool for $3 bln

Emerson Electric Co is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid

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Aug 8 (Reuters) – U.S. diversified manufacturer Emerson Electric Co (EMR.N) on Monday said that it would sell its food waste disposer business InSinkErator to home appliance maker Whirlpool Corp for $3 billion.

InSinkErator, which also manufactures instant hot water dispensers, had a trailing twelve-month revenue of $595 million, as of March 31.

The business was founded in 1938 and acquired by Emerson in 1968.

The transaction is expected to close in Emerson’s 2023 fiscal year.

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Reporting by Nathan Gomes in Bengaluru;editing by Neha Arora

Our Standards: The Thomson Reuters Trust Principles.

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