Eaton Delists Phoenixtec Power Company Ltd. From Taiwan Stock Exchange, Merges Taiwanese Businesses
October 31 2008 - 8:35AM
Business Wire
Diversified industrial manufacturer Eaton Corporation (NYSE:ETN)
today announced that it delisted recently acquired Phoenixtec Power
Company Ltd. from the Taiwan Stock Exchange and merged its two
Taiwanese businesses. The combined entity under which Eaton will
manufacture products in Taiwan is Eaton Phoenixtec MMPL Co., Ltd.
Through Eaton Phoenixtec MMPL Co., Ltd., Eaton will manufacture
Phoenixtec's brands including Phoenixtec(TM), Centralion(TM) and
Santak(R). Eaton acquired Phoenixtec, a manufacturer of single- and
three-phase uninterruptible power supply (UPS) systems for the
global marketplace, following a tender offer launched on December
21, 2007, in Taipei, Taiwan. In connection with the merger, Eaton
also acquired all remaining shares of Phoenixtec common stock.
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 82,000 employees and sells products to customers
in more than 150 countries. For more information, visit
www.eaton.com. Diversified industrial manufacturer Eaton
Corporation (NYSE:ETN) today announced that it delisted recently
acquired Phoenixtec Power Company Ltd. from the Taiwan Stock
Exchange and merged its two Taiwanese businesses. The combined
entity under which Eaton will manufacture products in Taiwan is
Eaton Phoenixtec MMPL Co., Ltd. Through Eaton Phoenixtec MMPL Co.,
Ltd., Eaton will manufacture Phoenixtec�s brands including
PhoenixtecTM, CentralionTM and Santak�. Eaton acquired Phoenixtec,
a manufacturer of single- and three-phase uninterruptible power
supply (UPS) systems for the global marketplace, following a tender
offer launched on December 21, 2007, in Taipei, Taiwan. In
connection with the merger, Eaton also acquired all remaining
shares of Phoenixtec common stock. 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 82,000 employees
and sells products to customers in more than 150 countries. For
more information, visit www.eaton.com.
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