Eaton Completes Sale of Its Hydraulics Business for $3.3 Billion
02 Agosto 2021 - 3:29PM
Business Wire
Power management company Eaton (NYSE:ETN) today announced it has
completed the sale of its Hydraulics business to Danfoss A/S, a
Danish industrial company.
Eaton’s Hydraulics business, which had sales of $1.8 billion in
2020, is a global leader in hydraulics components, systems, and
services for industrial and mobile equipment.
“The completion of this sale marks another milestone in Eaton’s
continued transformation into a higher growth company with more
earnings consistency,” said Craig Arnold, Eaton chairman and chief
executive officer. “This transaction creates considerable value for
our shareholders and enables our hydraulics employees to be part of
a company with a strong commitment to the hydraulics industry.”
Eaton now has four global businesses – Aerospace, Electrical,
eMobility and Vehicle – with Electrical and Aerospace accounting
for the majority of the company’s profit.
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 85,000 employees.
For more information, visit Eaton.com.
This news release contains forward-looking statements concerning
Eaton’s transformation into an intelligent power management
company. These statements should be used with caution and are
subject to various risks and uncertainties, many of which are
outside the company’s control, including unexpected difficulties in
executing on our transformation strategy. We do not assume any
obligation to update these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210802005444/en/
Margaret Hagan, +1 (440) 523-4343 MargaretHagan@Eaton.com
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