Eaton acquires assets from Catalytica Energy Systems Inc.
CLEVELAND ... Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced it has acquired the diesel fuel processing technology and associated business assets of Catalytica Energy Systems Inc. (NASDAQ:CESI) for $2.4 million.
Under the terms of the Asset Purchase Agreement, Eaton will receive the assignment and license of intellectual property relating to Catalytica's diesel fuel processing system and the transfer of certain assets. Additionally, Eaton will take over Catalytica Energy Systems' research and development facility in Mountain View, Calif., which employs 12 people engaged in the design and development of emissions control solutions.
"Catalytica's expertise in diesel fuel processing technology complements our product development activities and will be an important part in helping our customers meet the 2010 U.S. environmental regulations," said Jim Sweetnam, Eaton senior vice president and president – Truck Group.
Eaton Corporation is a diversified industrial manufacturer with 2005 sales of $11.1 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 60,000 employees and sells products to customers in more than 125 countries.
Kelly Jasko, manager, External Communications