St. Louis, July 1, 2014 – Emerson Climate Technologies, Inc., a business of Emerson (NYSE: EMR) and a world leader in delivering heating, air conditioning, and refrigeration technologies and services to the marketplace, today announced the formation of a joint venture with Shanghai Ruking Electronics Science & Technology Co., Ltd.
The new company will be named Ruking Emerson Climate Technologies (Shanghai) Co., Ltd. and has been established with Shanghai Ruking Electronics’ business focused on the development and sale of variable speed inverter drives, controls and solutions for the global heating, air-conditioning and refrigeration market. Emerson’s global technology leadership in combination with our regional market support will be leveraged by the joint venture.
Ruking is a leading heating and air-conditioning inverter technology and solutions company with a full-complement of R&D, design, manufacturing and sales capabilities. Ruking was founded in 2003 by Patrick (Huaigang) Lei who will continue as CEO in leading the joint venture and managing the day-to-day operations.
“Our new joint venture strengthens our variable speed capabilities to better serve our customers, which is a key strategic initiative for Emerson Climate Technologies,” said Brandy Powell, vice president variable speed for Emerson Climate Technologies. “With additional variable speed inverter expertise and inverter system controls capabilities, we can develop broader, higher value solutions for our customers while being faster with time to market.”
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial, and consumer markets around the world. The company is comprised of five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions. Sales in fiscal 2013 were $24.7 billion. For more information, visit www.Emerson.com
About Emerson Climate Technologies
Emerson Climate Technologies, a business segment of Emerson, is the world’s leading provider of heating, air conditioning and refrigeration solutions for residential, industrial and commercial applications. The group combines best-in-class technology with proven engineering, design, distribution, educational and monitoring services to provide customized, integrated climate-control solutions for customers worldwide. The innovative solutions of Emerson Climate Technologies, which include industry-leading brands such as Copeland Scroll™ and White-Rodgers™, improve human comfort, safeguard food and protect the environment. For more information, visit www.EmersonClimate.com