INTERVIEW-Emerson says May orders better but trough deep
YOKOHAMA, June 11 (Reuters) - Industrial electrics group Emerson Electric Co (EMR.N) logged May orders that were "slightly better" than in April, but the company is speeding up restructuring efforts ahead of a tough 2010, its CEO said.
Monthly orders at the maker of factory automation equipment, power and cooling systems for data centres and other industrial equipment would trend at a decline of 20 to 25 percent from a year earlier for some time, David Farr said in an interview with Reuters on Thursday.
Underlying orders at Emerson in April fell by 25 percent from a year earlier. [nN19416911]
Farr said he expects its restructuring costs to total $250 million to $300 million in the business year to September. That is up from a previously forecast $200 million to $250 million.
"We have to pull hard on the bit now," Farr said. "We can't be restructuring facilities when this happens," he said, pointing to a curve on a piece of paper representing an upswing in the economy in late 2010.
(Reporting by Mayumi Negishi)
((mayumi.negishi@thomsonreuters.com; +81-3-6441-1812; Reuters Messaging: mayumi.negishi.reuters.com@reuters.net))
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