You might want to also check out Emerson's earnings released today, http://www.gotoemerson.com/jsp/news/frelease.jsp?ReleaseID=3101 and what it says about the operating highlights of Emerson Process Management:
Process Management had another strong quarter as revenue grew by 19 percent. This increase was comprised of 14 percent underlying sales growth, 3 percent favorable impact from currency and 2 percent growth from acquisitions. The momentum of this business is evidenced by continued large project wins around the world. During the quarter, Process announced project awards to digitally automate facilities in the oil sands of Canada as well as the largest lignite-fired power plant in Europe.
The Emerson senior management team will discuss the third-quarter fiscal 2007 results during an investor conference call today at 1pm -www.emerson.com/financial. It is clearly a great time to be in the automation and process industries. With all the majors, and almost all of the minors, reporting strong growth tied to strong growth in manufacturing, especially petrochem, specialty chem and pharma, it's no wonder that everybody in the industry is happy!