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Industrial automation equipment maker Emerson Electric agreed Tuesday to buy back General Electric's smart platform business, a day after the CEO's replacement by the conglomerate.
The terms of the agreement, which should be finalized during the first half of fiscal year 2019, have not been disclosed.
According to Emerson, GE's sales of $ 210 million in 2017 will help it grow in several industries, including metals and mining, packaging and life sciences.
The company has developed a set of controllers and devices connected to the cloud to enable smarter factories.
"This transaction allows Intelligent Platforms to be in the best position to continue its growth strategy, while accelerating our reinvestment in GE Power to develop future energy technologies and provide the world with reliable and affordable electricity." "said Russell Stokes, CEO of GE Power.
GE has abandoned several companies to focus on jet engines, power plants and renewable energies.
The company, which was once the largest US corporation and a global symbol of US corporate power, replaced its CEO, John Flannery, on Monday with outside board member and board member Larry Culp to fight the country's weakness. his electrical activity.
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