Emerson Electric Co. (NYSE: EMR) said Monday it has agreed to sell its Mount Pleasant-based InSinkErator food waste disposal business to Whirlpool Corp. of Benton Harbor, Michigan, for $3 billion in cash.

The Ferguson, Missouri-based technology and engineering company said in a press release that its plan to divest InSinkErator “represents a meaningful step in Emerson’s continued commitment to creating a higher growth, more diversified and cohesive portfolio.”

Officials said that, subject to regulatory approvals, the deal to close in Emerson’s fiscal 2023, which begins in October.

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