Eaton Agrees to Acquire Jeil Hydraulics Co., Ltd.
20 Aprile 2012 - 3:00PM
Business Wire
Diversified industrial manufacturer Eaton Corporation (NYSE:ETN)
today announced it has agreed to acquire substantially all of the
shares of Jeil Hydraulics Co., Ltd. Headquartered in South Korea,
Jeil Hydraulics is a manufacturer of track drive motors, swing
drive motors, main control valves and remote control valves for the
construction equipment market. The deal is subject to customary
closing conditions. Terms were not disclosed.
“The acquisition of Jeil Hydraulics provides Eaton with a
well-established portfolio of hydraulic components for the
construction equipment market in Asia,” said William R. VanArsdale,
president, Eaton’s Hydraulics Group. “The combination of Jeil
Hydraulics’ customer relationships and Eaton’s manufacturing and
supplier network will improve our presence and strengthen future
growth in the region.”
Jeil Hydraulics is headquartered in Busan, South Korea and had
2011 sales of approximately $189 million.
Eaton Corporation is a diversified power management company with
more than 100 years of experience providing energy-efficient
solutions that help our customers effectively manage electrical,
hydraulic and mechanical power. With 2011 sales of $16.0 billion,
Eaton is a global technology leader in electrical components,
systems and services for power quality, distribution and control;
hydraulics components, systems and services for industrial and
mobile equipment; aerospace fuel, hydraulics and pneumatic systems
for commercial and military use; and truck and automotive
drivetrain and powertrain systems for performance, fuel economy and
safety. Eaton has approximately 72,000 employees and sells products
to customers in more than 150 countries. For more information,
visit www.eaton.com.
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