(Reuters] – Emerson Electric Co, a diversified manufacturer, announced on Wednesday that they would be closing down their Russian business. It also stated that they would investigate strategic options for Metran (the subsidiary of the company) in Russia.

Lal Karsanbhai (Chairman Executive) stated that they are determined to transfer these assets in a timely manner and support their employees throughout the process.

Emerson reported net earnings of $674million to common stockholders for the three-months ended March 31. This is an increase from $561million, which was 93c per share, one year ago.