CLEVELAND ... Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced it has entered into a joint venture in the United Arab Emirates. The joint venture will operate through SEG Middle East Power Solutions & Switchboard Manufacture LLC, a manufacturer of low voltage switchboards and control panel assemblies for use in the Middle East power generation and industrial markets. Terms of the deal were not disclosed.
SEG Middle East Power Solutions & Switchboard Manufacture LLC, which is based in Abu Dhabi, United Arab Emirates, had sales of $10 million in the fiscal year ended December 31, 2008.
“This joint venture provides Eaton with an established operation that has built a successful business supplying switchboard and control solutions in the Middle East,” said Frank Campbell, president – Europe, Middle East and Africa region for Eaton’s Electrical Sector. “This provides Eaton with a local manufacturing presence and positions us for continued success in this high growth region.”
Eaton Corporation is a diversified power management company with 2008 sales of $15.4 billion. Eaton is a global technology leader in electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has approximately 75,000 employees and sells products to customers in more than 150 countries.