Eaton Acquires Engine Valves Business of Kirloskar Oil Engines Ltd.
July 31 2008 - 8:05AM
Business Wire
Diversified industrial manufacturer Eaton Corporation (NYSE:ETN)
today announced it has acquired the engine valves business of
Kirloskar Oil Engines Ltd. Terms of the transaction were not
disclosed. "Through this acquisition, we will be able to use our
global resources to meet the needs of the domestic Indian customer
base and provide support to our customers around the world,� said
Joseph P. Palchak, chief executive officer � Automotive Group. �In
addition, Kirloskar�s new facility in Ahmednagar, India, provides
Eaton with a first-class valve facility, expansion opportunities
and an experienced workforce.� The engine valves business of
Kirloskar Oil Engines Ltd. employs approximately 500 people in
India and had 2007 sales of approximately $5 million. The business
designs, manufactures and sells intake and exhaust valves for
diesel and gasoline engines. Eaton Corporation is a diversified
power management company with 2007 sales of $13 billion. Eaton is a
global technology leader in electrical systems 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 81,000 employees
and sells products to customers in more than 150 countries. For
more information, visit www.eaton.com.
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