Eaton Acquires Electrum Group
3/17/04 - CLEVELAND, OH- Diversified industrial manufacturer Eaton Corporation announced today it has acquired the Electrum Group Ltd., a New Jersey-based company that provides power management services and web-based software for telecommunications, data center and government applications. Electrum had 2003 revenues of about $3.5 million. Terms of the acquisition were not disclosed.
"The acquisition expands our solutions capabilities in the areas of asset management and systems services for a variety of applications," said Randy Carson, senior vice president and group executive of Eaton's electrical business. "Electrum gives our global electrical services and systems organization the foundation to deliver differentiated asset management services to industries that depend on AC and DC power."
Electrum delivers custom solutions to customers through Electrum-OnLineTM. Electrum-OnLine is a suite of web-based, client friendly, customizable applications that serve as a centralized database for all site survey, asset management, preventative maintenance, alarming, remote monitoring, project management and power engineering information and data.
Electrum is headquartered in Woodbridge, N.J. and has a service center in Eldersburg, Md. All Electrum employees will become part of Eaton's global services organization.
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 several brand names, including Cutler-Hammer?, Durant?, Heinemann?, Holec? and MEM?. Eaton serves customers in the industrial, utility, commercial, residential, and OEM markets. For more information, visit www.eatonelectrical.com.
Eaton Corporation is a global diversified industrial manufacturer with 2003 sales of $8.1 billion that is a leader in fluid power systems; electrical power quality, distribution and control; automotive engine air management and fuel economy; and intelligent systems for fuel economy and safety in trucks. Eaton has 51,000 employees and sells products to customers in more than 100 countries. For more information, visit www.eaton.com.
Gary Klasen, Eaton media relations, (216) 523-4736
Charles Castano, Electrical Group - Global Communications (412) 893-3828