Eaton completes Walterscheid purchase

 

 

CLEVELAND ... Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) announced today it has completed the purchase of Walterscheid Rohrverbindungstechnik GmbH (Walterscheid) from GKN plc, a London-based automotive and aerospace supplier.

Eaton reported on June 22 that it reached agreement with GKN to purchase Walterscheid for $48 million. Walterscheid is a German manufacturer of hydraulic tube connectors and fittings and had 2003 sales of $52 million. Its products are used in mobile and stationary markets such as construction, agricultural equipment and machine tools.

Eaton Corporation is a diversified industrial manufacturer with 2003 sales of $8.1 billion. Eaton is a global leader in fluid power systems and services for industrial, mobile and aircraft equipment; electrical systems and components for power quality, distribution and control; automotive engine air management systems and powertrain controls for fuel economy; and intelligent drivetrain systems for fuel economy and safety in trucks. Eaton has 55,000 employees and sells products to customers in more than 100 countries.

 

Contact Information

William Hartman, vice president, Investor Relations
(216)523-4501
williamhartman@eaton.com

Gary Klasen, director, Media Relations
(216)523-4736
GaryKlasen@eaton.com