Eaton acquires power systems business of Commonwealth Sprague Capacitor
Mon Jan 6, 2003 -
CLEVELAND ... Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) announced today that it has purchased the power systems business of Commonwealth Sprague Capacitor Inc., based in North Adams, Mass.
The power systems business includes power factor correction systems and harmonic filters, which are products used for power quality and energy management applications. The purchase price was $6 million, approximately the same as the 2002 sales volume of the power systems business.
“This acquisition allows Eaton's electrical business to expand its growing energy management and power quality business with the addition of well-established Commonwealth Sprague low- and medium-voltage product offerings,” said Randy W. Carson, senior vice president and group executive for Industrial and Commercial Controls. “These products enable customers to upgrade their power reliability and reduce their facility energy costs, thereby improving profitability.”
Eaton's Industrial and Commercial Controls business is a worldwide leader in electrical control, power distribution, and industrial automation products and services.
Eaton Corporation is a global $7.3 billion diversified industrial manufacturer that is a leader in fluid power systems; electrical power quality, distribution and control; automotive engine air management and fuel economy; and intelligent truck systems for fuel economy and safety. Eaton has 48,000 employees and sells products in more than 50 countries.