St. Louis — Emerson Climate Technologies Inc., a business of Emerson (NYSE: EMR) and a world leader in delivering heating, air conditioning and refrigeration technologies and services to the marketplace, announced the formation of a joint venture with Shanghai Ruking Electronics Science & Technology Co., Ltd.

The new company will be named Ruking Emerson Climate Technologies (Shanghai) Co., Ltd. and has been established with Shanghai Ruking Electronics’ business focused on the development and sale of variable speed inverter drives, controls and solutions for the global heating, air conditioning and refrigeration market.  Emerson’s global technology leadership in combination with its regional market support will be leveraged by the joint venture.

Ruking is a leading heating and air conditioning inverter technology and solutions company with a full complement of R&D, design, manufacturing and sales capabilities. Ruking was founded in 2003 by Patrick (Huaigang) Lei who will continue as CEO in leading the joint venture and managing the day-to-day operations.

“Our new joint venture strengthens our variable speed capabilities to better serve our customers, which is a key strategic initiative for Emerson Climate Technologies,” said Brandy Powell, vice president of variable speed for Emerson Climate Technologies. “With additional variable speed inverter expertise and inverter system controls capabilities, we can develop broader, higher value solutions for our customers while being faster with time to market.”

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From left to right:  Jon Neustadt (vice president),  Paul Neustadt (president),  Brian Neustadt (vice president, national accounts),  Bill Neustadt (CEO),  Tim Stelzer (vice president, sales)