The US-based Emerson has bought out its partner in a joint venture headquartered in Chennai that makes a variety of valves.

The Chennai-based Sanmar group on Thursday announced that it was selling its 50.97 per cent stake in Fisher Sanmar for an undisclosed consideration.

Fisher Sanmar has been in existence for over 20 years. A press release from Sanmar said that the “friendly separation a natural evolution of Emerson's increased presence in India.”

(This article was published on March 31, 2011)
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