* Sees slow economic growth returning later this year
* Expects another $500 mln-$600 mln in fiscal 2010 M&A
BOSTON Feb 5 U.S. industrial conglomerate
Emerson Electric Co (EMR.N) does not expect the U.S. economy to
slide back into recession, but anticipates slow growth over the
next decade, its top executive said on Friday.
"I do not believe we're going to have a double-dip
recession," Chief Executive David Farr told investors. "I think
we'll have stronger growth as we move into late 2010 on a
To grow its business in the face of what it expects to be
slow economic growth over the next decade, the maker of climate
control systems, power systems and technology used in the
production of oil and natural gas expects to both buy new
businesses it sees as faster-growing and sell off
slower-growing units over the next few years.
The St. Louis-based company, which closed out its first
fiscal quarter on Dec. 31, expects to reach another $500
million to $600 million in takeover deals before its 2010
fiscal year ends.
Emerson said earlier this week that it expects to report
2010 profit of $2.20 per share to $2.40 per share.
(Reporting by Scott Malone, editing by Gerald E. McCormick)