American giant Emerson, which is a world leader in industrial automation, has announced that it is selling its business in Russia to the local management team for an undisclosed amount, marking the company’s exit from the country.
“Emerson today announced an agreement to sell its Russia business, including Metran, its Russia-based manufacturing subsidiary, and Emerson LLC in Russia, the sales and service organization for Metran, to the local management team. This announcement follows the company’s May statement to exit its Russia business and explore strategic options to divest Metran,” the statement said.
