CLEVELAND, OHIO...Eaton Corporation and Email Ltd. of Australia today announced they have entered into an agreement whereby Eaton will acquire Email's electrical switchgear and controls business. Terms of the agreement, which is subject to satisfaction of certain conditions, were not disclosed, and the two companies said they expect the deal to be concluded by May 1st.

Email's switchgear and controls business includes facilities in Australia, New Zealand, Singapore and the Philippines, which manufacture and distribute a wide range of electrical equipment, including circuit breakers, panelboards, contactors and switchgear. The business has 500 employees, and had sales of approximately $30 million for 1994.

Alexander M. Cutler, Eaton Executive Vice President-Controls, said, "We are pleased with the prospect of acquiring the switchgear and controls business of Email. We are familiar with the business and its management, and its addition will be an important part of the international growth strategy of our Cutler-Hammer business. In addition to giving us an immediate presence in the emerging Southeast Asian markets, it provides us with a platform from which we can sell our full range of Cutler-Hammer products to original equipment manufacturers and distributors in that region of the world."

Cutler-Hammer, a business unit of Eaton, manufactures and sells a wide range of power distribution and industrial control products worldwide.

Eaton Corporation is a global manufacturer of highly engineered products which serve automotive, industrial, construction, commercial, aerospace and marine markets. Principal products include truck transmissions and axles, engine components, hydraulic products, electrical power distribution and control equipment, ion implanters and a wide variety of controls. Headquartered at Eaton Center in Cleveland, the company has 51,000 employees and 150 manufacturing sites in 18 countries around the world. Sales for 1994 were $6.1 billion.

 

 

Contact Information

Renald Romain
216-523-4736
rennyromain@eaton.com

 

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