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Eaton agreed to acquire South Korea...
Eaton agreed to acquire South Korea's first hydraulic co.
Cleveland - Diversified industrial manufacturer Eaton Corporation (NYSE: ETN) today announced that it has agreed to acquire First Hydraulic Co., Ltd. (the Jeil Hydraulics,) the vast majority of all the shares. Headquartered in Korea Hydraulic Co., Ltd. is an engineering equipment market track drive motor, the swing drive motor, control valves and remote control valve manufacturer of the product. The transaction will be according to customary closing conditions, did not disclose specific terms.
William R. VanArsdale, Eaton Hydraulics Group President, said: "The acquisition of the first oil pressure, will Eaton construction equipment market in Asia to provide a comprehensive range of hydraulic components product portfolio through the effective integration of the first hydraulic customer relationships and Eaton's manufacturing capabilities and supplier networks will enhance the the Eaton existing business performance, and promote the future development of the Asian business. "
The first hydraulic corporate headquarters is located in Busan, South Korea, with annual sales of approximately $ 189 million in 2011.
Eaton Corporation is a diversified power management company for over 100 years, is committed to provide energy efficient solutions to help customers more effectively manage power, hydraulic and mechanical power. The company's sales reached $ 16 billion in 2011. Eaton is a global technology leader in many industrial fields, including power quality, distribution and control systems and services; machinery required for industrial and mobile equipment hydraulics components, systems and services; commercial and military aerospace required fuel, hydraulic and pneumatic systems; and truck and automotive drivetrain and powertrain systems for improve performance, fuel economy and safety. Eaton has approximately 72,000 employees and sells products in over 150 countries and regions.