Market Commentary and Intraday News

Emerson Electric sells storage business for $115M

283 days ago

(AP:ST. LOUIS) Emerson Electric Co. said Friday that it sold its Knaack LLC storage division to Werner Co. for $115 million.

Knaack makes Weather Guard storage equipment for trucks and vans, including shelving and cabinets, racks, and drawer units. It also sells job site storage equipment, including storage chests, work stations, rolling work benches and hand tool boxes under the Knaack brand name. The division is based in Crystal Lake, Ill., and it was part of Emerson's commercial and residential solutions business.

Werner makes ladders and other commercial climbing and safety equipment.

Emerson Electric lost 18 cents to close at $49.80.

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