Date: May 2, 2007
Eaton Completes Purchase Of Fuel Components Division Of Saturn Electronics & Engineering, Inc.
CLEVELAND … Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced it has completed its purchase of the fuel components division of Saturn Electronics & Engineering, Inc. Terms were not disclosed. Eaton announced April 5 that it had reached a definitive agreement to purchase the division.
The fuel components division of Saturn Electronics & Engineering, Inc. employs approximately 100 people at a facility in Oxford, Mich., and had sales of approximately $28 million in 2006.
The division designs, manufactures and sells fuel containment valves for vehicle safety in the event of vehicle rollover or accident impacts, as well as fuel shutoff valves to prevent splash back and vapor release during refueling. Saturn also produces valves to control Environmental Protection Agency-regulated fuel tank vapor emissions and a variety of other specialty actuators controlling motion and vibration.
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 61,000 employees and sells products to customers in more than 125 countries.