Eaton Purchases Tycor International Corporation
CLEVELAND, OH.... Eaton Corporation (NYSE:ETN) today announced it has acquired Tycor International Corp., a manufacturer of power conditioning and surge suppression devices, for an undisclosed amount. Tycor will become part of Eaton's Cutler-Hammer business.
Based in Calgary, Alberta, Canada, Tycor manufactures products which provide clean power and protect electrical loads against lightning and other power disturbances. The company's sales have increased 40 percent over the past year through expansion in the United States and international markets.
"With its 18-year history in the power quality industry, Tycor will provide strategic growth opportunities for Cutler-Hammer in a variety of markets, including construction, industrial, medical, factory automation, telecommunications and residential," said Senior Vice President-Cutler-Hammer, Joseph L. Becherer.
"Tycor has the most progressive research and development capabilities in the surge protection industry which, through the years, has resulted in an excellent line-up of products," Becherer added. "Those products, and the growth opportunities they create, will be facilitated by Cutler-Hammer's network of 500 sales representatives and 1,500 distributors worldwide."
Becherer said the power quality industry continues to grow rapidly amid strong worldwide demand for electrical equipment such as computers, process control devices, variable speed drives and telecommunications equipment. He said Tycor expects sales to approach $25 million by the year 2000.
Cutler-Hammer, a part of Eaton Corporation, is one of the world's leading suppliers of power distribution equipment, electrical control products and industrial automation equipment serving the industrial, automotive, construction and commercial markets. Control and automation equipment includes contactors and motor starters, variable speed drives, photoelectric and proximity sensors, PanelMate video control panels, microprocessor-based control and protection devices, as well as pushbuttons and switches. Power distribution equipment includes circuit breakers, substations, switchgear, panelboards, load centers, transformers and safety switches.
Eaton Corporation, headquartered in Cleveland, Ohio, is a global manufacturer of highly engineered products which serve industrial, vehicle, construction, commercial and aerospace markets. Principal products include electrical power distribution and control equipment, engine components, hydraulic products, ion implanters and a wide variety of controls. The company is a leader in the design, manufacture, and distribution of truck drivetrain components for medium-duty and heavy-duty commercial trucks worldwide. Eaton has 55,000 employees and 155 manufacturing sites in 26 countries around the world. Sales for 1996 were $7 billion.