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Date: December 1, 2006
Eaton completes acquisition of Schréder-Hazemeyer SA
Cleveland … Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced it has acquired the remaining 50 percent ownership of Schréder-Hazemeyer (S-H) from Schréder SA for an undisclosed cash amount. Schréder-Hazemeyer is a manufacturer of low and medium voltage electrical distribution switchgear based in Brussels, Belgium. The company has 40 employees.
The acquisition will allow Eaton to expand its product offering to customers in S-H’s key markets, which include Belgium, Burundi, Congo and Rwanda. S-H will also work closely with Eaton’s international operations to expand its geographic reach. Eaton originally acquired its existing 50 percent ownership of S-H when it purchased the electrical division of Delta plc in 2003.
In the electrical industry, Eaton is a global leader in electrical control, power distribution, and industrial automation products and services. Through advanced product development, world class manufacturing methods and global engineering services and support, Eaton provides customer-driven solutions under brand names such as Cutler-Hammer®, Powerware®, Durant®, Heinemann®, Holec®, and MEM®, which globally serve the changing needs of the industrial, utility, light commercial, residential, and OEM markets. For more information, visit Eaton’s Electrical Group website at www.eatonelectrical.com.
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. For more information, visit www.eaton.com.