艾默生Emerson Electric Co. (EMR) 2009年年度报告「AMEX」.pdf

1、2009 Annual ReportOur ability to help people solve problems in ways that have never been done before will remain at the core of our future growth and success.ContentsDear Shareholders Its Never Been Done Before Financial HighlightsFinancial Review17910Annual Report1We are emerging from one of the ha

2、rshest economic declines in memory an economic event that punished nearly every business in virtually every global market.As many reacted to the recession by retrenching and digging in,Emerson met the challenge by doing what we do best:innovating and moving forward.We focused on investing in our cor

3、e businesses,looking ahead to where growth would be strongest:infrastructure projects in the developing world,power generation and distribution,enhancing energy efficiency,and network integrity and data center connectivity.We also took rapid steps to reposition our operations for greater efficiency

4、in a long-term,best-cost structure.These quick actions,along with key growth strategies in place before the downturn,have positioned us well along the path of recovery although we expect the recovery to be slow and gradual,especially in the United States and Western Europe.A review of 2009Emersons a

5、bility to respond quickly to changing business cycles and conditions,while also investing for the long term,continues to be a powerful advantage for creating a unique competitive edge.Even so,this deep recession was much worse than our most pessimistic scenarios.Although Dear Shareholders,David N.Fa

6、rr Chairman,Chief Executive Officer,and PresidentEmerson 20092From left:Edward L.Monser,Chief Operating Officer;Charles A.Peters,Senior Executive Vice President;David N.Farr,Chairman,Chief Executive Officer,and President;Craig W.Ashmore,Executive Vice President Planning and Development;Walter J.Galv