Emerson Electric profit jumps 47% on strength in automation unit


FILE PHOTO  Emerson Electric Co is displayed on a screen on the floor at the New York Stock Exchange NYSE in New York U.S. January 13 2020. REUTERSBrendan McDermid

FILE PHOTO: Emerson Electric Co is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid

(Reuters) - U.S. equipment maker Emerson Electric Co on Tuesday posted a near 47% 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.

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