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Date: March 16, 2007
Eaton Completes Purchase Of Argo-Tech
CLEVELAND … Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) announced today it has completed its purchase of AT Holdings Corporation, the parent of Argo-Tech Corporation. Eaton announced plans on December 28, 2006, to purchase the business. The business is being sold by private equity firms Vestar Capital Partners and Greenbriar Equity Group.
Argo-Tech’s aerospace business is a leader in high performance aerospace engine fuel pumps and systems, airframe fuel pumps and systems, and ground fueling systems for commercial and military aerospace markets. Prior to the closing, AT Holdings was reorganized to exclude its cryogenics and other non-aerospace businesses and certain other assets from the transaction.
Eaton Corporation is a diversified industrial manufacturer with 2006 sales of $12.4 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.