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(Corporate Event Update)
Emerson COO Attends US-China Trade and Investment Cooperation Forum
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WASHINGTON, April 28, 2009 – A Chinese trading delegation, led by China’s Ministry of Commerce minister Chen Deming, visited the United States, and a number of Chinese and US companies signed business contracts worth over US$10 billion during the trip. Emerson was one of the participants in the US-China Trade and Investment Cooperation Forum.
Edward L. Monser, Emerson’s chief operating officer (COO), attended the forum and signed framework agreements with companies including China Telecom and China Mobile to provide them with power and environmental monitoring systems. In addition, Emerson Network Power Embedded Computing also signed agreement of intent in Chicago with Alcatel-Lucent Shanghai Bell to provide ATCA (Advanced Telecom Computing Architecture) products.
In addition, Monser participated in a series of business activities including a breakfast organized by the US-China Business Council, and a dinner hosted by the US Chamber of Commerce. He also met with Chinese officials including minister Chen Deming and vice minister Ma Xiuhong. Monser expressed his gratitude for the continuous support from the Chinese government. He emphasized Emerson’s confidence in the Chinese economy and willingness to expand the scope of cooperation in future. He also met with Emerson’s key customers to understand their needs.
Minister Chen said that it was very important to strengthen cooperation during the economic downturn. He hoped that companies from China and the US would continue to enhance their cooperation, working together to support China-US economic development and overcome the economic crisis.
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Last June, China’s vice premier Wang Qishan attended the China-US Strategic Economic Dialogue (SED) and visited St. Louis, Missouri with a Chinese delegation. David N. Farr, chairman, CEO and president of Emerson, and vice premier Wang had a face-to-face meeting. During the visit, Monser, on behalf of Emerson, signed two business contracts with Chinese companies. One was a US$30 million contract to purchase Emerson Climate Technologies’ scroll compressors, and other equipment used in air conditioning and heating systems. The other was a US$40 million contract between China Mobile and Emerson Network Power to provide power supply solutions and services. In 2007, Emerson also participated in a number of Sino-US economic cooperation activities.
About Emerson Emerson (NYSE:EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions to customers through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses. Sales in fiscal 2008 were US$24.8 billion and Emerson is ranked 94th on the Fortune 500 list of America’s largest companies. For more information, visit www.Emerson.com.
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