Emerson acquires marine valve supplier AUSTIN, Texas, Jan 06, 2007 (AFX via COMTEX News Network) -- Engineering firm Emerson Electric Co. said Friday it acquired marine valve supplier Damcos Holding AS to strengthen its presence in the marine industry. Financial terms of the deal were not disclosed. Damcos Holding supplies valve remote controls and tank monitoring equipment to the marine and shipbuilding industries. Damcos will become part of Emerson's process management business, which helps companies automate their production and processing systems. Emerson bought the company from British investor 3i Group PLC, Danish valve manufacturer Danfoss AS and the Damcos management team. Emerson shares fell 38 cents to close at $43.48 on the New York Stock Exchange. Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. MMMM (C) 2007 XFN, Inc. All rights reserved.