Eaton Acquires 50 Percent Stake in HuanYu High Tech, Expanding Eaton’s Range of Low-voltage Electrical Components Sold in A...
29 Marzo 2021 - 12:49PM
Business Wire
Power management company Eaton (NYSE:ETN) today announced it has
completed the acquisition of a 50 percent stake in HuanYu High
Tech, a subsidiary of HuanYu Group that manufactures and markets
low-voltage circuit breakers and contactors in China, and
throughout the Asia-Pacific region.
“Our partnership with HuanYu Group represents an exciting
opportunity for both companies,” said Howard Liu, president,
Asia-Pacific Region, Electrical Sector and Corporate China, Eaton.
“HuanYu High Tech’s strong product portfolio and manufacturing
capabilities, combined with Eaton’s global scale and access to the
broader Southeast Asian market, will enable us to grow our
low-voltage electrical components business in Asia.”
HuanYu Group is a leading Chinese electrical equipment
manufacturer. Founded in 1989 and headquartered in Wenzhou, China,
its products are widely used across a variety of industries
including, commercial and residential buildings, power grid, new
energy, communication technology, transportation, and industrial
manufacturing.
Eaton’s mission is to improve the quality of life and the
environment through the use of power management technologies and
services. We provide sustainable solutions that help our customers
effectively manage electrical, hydraulic, and mechanical power –
more safely, more efficiently, and more reliably. Eaton’s 2020
revenues were $17.9 billion, and we sell products to customers in
more than 175 countries. We have approximately 92,000 employees.
For more information, visit Eaton.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210329005357/en/
Katy Brasser, (216) 232-8869 KatyBrasser@eaton.com
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