Emerson Electric’s profit jumps 47 percent as automation unit performs well

US equipment maker Emerson Electric Co posted a near 47 percent jump in third-quarter profit, benefiting from stronger performance at its automation unit as companies revamp their assembly lines to offset a shortage of factory workers.
The St. Louis, Missouri-based company, which began selling fans and electric motors more than a century ago, has been positioning itself as a technology-focused firm with a string of acquisitions over the last few years.
Companies globally have been making efforts to automate their assembly lines by adding robots to help meet rising demand for goods, amid a shortage of workers following the pandemic.