Emerson reported that quarterly profit rose 10% from the year-earlier period, bolstered by cost cuts and overseas sales of its tools and household appliances. Sales rose 12% to US$24.8 billion.
Emerson also said it won't sell its appliance controls business. Instead, the company will fold the unit into its appliance motors business, cutting overhead costs by 40% in a move to expand profit margins. Last month, Emerson sold its European appliance motor and pump business for $101 million.
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