By Colin Kellaher

Eaton Corp. (ETN) on Thursday said it sold its automotive fluid conveyance division to Munich-based private investment firm Quantum Capital Partners for an undisclosed amount.

The Dublin-based power-management company last March announced plans to sell the division, which employs about 1,300 people in Europe and China, because it makes products where Eaton isn't a market leader and its margin performance is dilutive.

The unit posted 2018 sales of about $150 million, a fraction of Eaton's $21.6 billion in sales for the year.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 02, 2020 12:07 ET (17:07 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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