CLEVELAND, OH...Eaton Corporation said today it has acquired the remaining 49 percent interest in Mallory Controles Ltda. of Sao Paulo, Brazil, as it had indicated it would do when it acquired a majority interest in Mallory on November 30, 1994. The purchase price for the remaining portion of the company was not disclosed.
The new business entity, which has been renamed Eaton Controles Ltda., has a 350-employee manufacturing facility in Sao Paulo which makes program timers, pressure switches and water valves for dishwashers, clothes dryers, washing machines and other major appliances.
Ante Lujic, Vice President-Appliance Controls Operations/Worldwide said, "The completion of this transaction establishes Eaton's leadership position in the Brazilian major appliance market. Not only does it strengthen our position with global customers in the growing Latin American appliance and automotive markets, it supports Eaton's overall worldwide growth initiative."
Eaton Controles Ltda. is part of the company's Appliance Controls Operations, which has 19 facilities in 7 countries, and more than 5,000 employees. Eaton's appliance controls product lines provide original equipment manufacturers worldwide with electronic and electromechanical devices to control water temperature, pressure and flow rate.
Eaton Corporation is a global manufacturer of highly engineered products which serve vehicle, industrial, construction, commercial and aerospace 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 in Cleveland, the company has 52,000 employees and 150 manufacturing sites in 22 countries around the world. Sales for 1994 were $6.1 billion.