Eaton Agrees to Acquire CopperLogic
September 27 2010 - 8:51AM
Business Wire
Diversified industrial manufacturer Eaton Corporation (NYSE:ETN)
today announced it has agreed to acquire CopperLogic, Inc., a
manufacturer of electrical and electromechanical systems. Terms of
the deal, which are subject to customary closing conditions, were
not disclosed.
"We are excited to be combining CopperLogic's go-to-market
efforts with Eaton's,” said Jerry R. Whitaker, president—Americas
Region, Electrical Sector. "This will help us better support the
way machinery original equipment manufacturers and other customers
obtain industry-leading Moeller series components in North America.
This acquisition positions Eaton as a more complete partner to
machinery original equipment manufacturers and will further enhance
Eaton’s sales organization and channels focused on the control,
components and automation markets. The acquisition of CopperLogic
will also bring a portfolio of IEC, CSA and UL assemblies to
Eaton.”
CopperLogic has facilities in the U.S. and Canada, with
headquarters in Houston, Texas and Mississauga, Ontario. The
company employs approximately 170 people and had sales of
approximately $35 million during the last 12 months.
Eaton Corporation is a diversified power management company with
2009 sales of $11.9 billion. Eaton is a global technology leader in
electrical components and 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 approximately 70,000 employees and
sells products to customers in more than 150 countries. For more
information, visit www.eaton.com.
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