Manufacturers

Eaton Completes Sale of Its Hydraulics Business for $3.3B

Eaton Completes Sale of Its Hydraulics Business for $3.3B

DUBLIN, Ireland — Power management company Eaton 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.

Tagged with ,

Comment on the story

Your email address will not be published.