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Emerson (EMR) Inks MOU with PETRONAS to Drive Decarbonization
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Emerson Electric Co. (EMR - Free Report) has signed a Memorandum of Understanding (MOU) with Petroliam Nasional Berhad (PETRONAS), a global energy group, to aid in digital transformation and decarbonization initiatives.
Emerson Vice President and General Manager of Automation Solutions (Malaysia), Khairil Affandi Akhiruddin has signed the MOU with PETRONAS Head of Group Technical Solutions (GTS), Project Delivery and Technology (PD&T), M Iskandar Bakeri.
Having been partners for a decade, Emerson and PETRONAS are collaborating again to develop advanced automation solutions. EMR has been working with PETRONAS over the past few years to identify digitalization and decarbonization opportunities while localizing a services and solutions portfolio.
The deal will allow the companies to extract Highway Addressable Remote Transducer (HART) diagnostic data from field instruments and control systems and develop effective predictive analytics to enhance wireless instrument performance. These data are utilized in process control applications and to improve cybersecurity for bolstering threat monitoring capabilities. It is also used to develop measurement and automation solutions to support sustainability and decarbonization initiatives focused on carbon capture.
“We are very grateful for our ongoing collaboration with PETRONAS. This agreement will further strengthen our synergy on sustainability and digital transformation -- key priorities for both organisations.” said Khairil Affandi.
Zacks Rank and Stocks to Consider
EMR currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked companies from the Industrial Products sector are discussed below:
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Emerson (EMR) Inks MOU with PETRONAS to Drive Decarbonization
Emerson Electric Co. (EMR - Free Report) has signed a Memorandum of Understanding (MOU) with Petroliam Nasional Berhad (PETRONAS), a global energy group, to aid in digital transformation and decarbonization initiatives.
Emerson Vice President and General Manager of Automation Solutions (Malaysia), Khairil Affandi Akhiruddin has signed the MOU with PETRONAS Head of Group Technical Solutions (GTS), Project Delivery and Technology (PD&T), M Iskandar Bakeri.
Having been partners for a decade, Emerson and PETRONAS are collaborating again to develop advanced automation solutions. EMR has been working with PETRONAS over the past few years to identify digitalization and decarbonization opportunities while localizing a services and solutions portfolio.
The deal will allow the companies to extract Highway Addressable Remote Transducer (HART) diagnostic data from field instruments and control systems and develop effective predictive analytics to enhance wireless instrument performance. These data are utilized in process control applications and to improve cybersecurity for bolstering threat monitoring capabilities. It is also used to develop measurement and automation solutions to support sustainability and decarbonization initiatives focused on carbon capture.
Emerson Electric Co. Price
Emerson Electric Co. price | Emerson Electric Co. Quote
“We are very grateful for our ongoing collaboration with PETRONAS. This agreement will further strengthen our synergy on sustainability and digital transformation -- key priorities for both organisations.” said Khairil Affandi.
Zacks Rank and Stocks to Consider
EMR currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked companies from the Industrial Products sector are discussed below:
Applied Industrial Technologies, Inc. (AIT - Free Report) presently sports a Zacks Rank #1 (Strong Buy) and has a trailing four-quarter earnings surprise of 24.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
AIT’s earnings estimates have increased 4.6% for fiscal 2023 in the past 60 days. Shares of Applied Industrial have risen 28.2% in the past year.
MRC Global Inc. (MRC - Free Report) presently has a Zacks Rank of 1. MRC’s earnings surprise in the last four quarters was 103%, on average.
In the past 60 days, MRC Global’s earnings estimates have increased 42% for 2022. The stock has rallied 67.2% in the past year.
Titan International, Inc. presently carries a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 49.6%, on average.
In the past 60 days, TWI’s earnings estimates have increased 1.4% for 2022. The stock has surged 70.7% in the past year.