The following news release was issued in Cleveland, Ohio and Aschaffenburg, Germany
CLEVELAND -- Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) and Linde Hydraulics, a division of KION Group GmbH, today announced they have entered into a global strategic alliance. The agreement strengthens product lines, market distribution channels and regional coverage for both companies.
Customers worldwide in construction, agriculture, vocational vehicles, civil engineering, processing and other industrial markets will benefit from expanded access to hydraulic system technologies and services through the new alliance. Eaton will add Linde’s comprehensive range of high-pressure piston pumps, motors and valves to its portfolio, and Linde will offer Eaton’s medium-pressure piston products.
In North, Central and South America and in Asia Pacific, Eaton’s Hydraulics business will supply Linde Hydraulics products through Eaton’s comprehensive sales and services networks and distribution partners. Linde Hydraulics will continue to operate in these regions by providing application support, technical services and cooperation with major international customers. In Europe, the Middle East and Africa, sales organizations and distributors for both companies will continue to focus on their core businesses with the mutually expanded product range.
“This important strategic alliance is complementary from a portfolio, market and regional perspective, and we look forward to the opportunities ahead,” said William VanArsdale, president – Eaton’s Hydraulics business. “Both companies bring a wealth of hydraulics experience and industry knowledge into this partnership and will have the opportunity to offer our global customers unique systems solutions by leveraging Eaton's broad portfolio and channel network with Linde's outstanding technologies.”
“Entering this unique and very broad global relationship will enable Linde Hydraulics to leverage its outstanding technical capabilities,” said Gordon Riske, Chief Executive Officer and Chairman of the Management Board of KION Group. “The Linde Hydraulics division is an essential component of KION's growth strategy. We are looking forward to working with Eaton and to having a partner with whom we can really boost our global presence and enhance the servicing of the market as well as the existing portfolio.”
KION Group, with its Linde, STILL, OM and Baoli brands, is Europe's market leader in industrial and warehouse trucks and related services, the global number two in the industry and the leading international supplier in China. With some 20,000 employees operating around the globe, KION Group generated sales of EUR 3.1 billion in 2009. Linde Hydraulics, a division of KION Group, is a leading manufacturer of heavy-duty hydraulic drive technology and mobile electric drives. For more information, visit www.kiongroup.com and www.linde-hydraulics.com .
Eaton Corporation is a diversified power management company with 2009 sales of $11.9 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 70,000 employees and sells products to customers in more than 150 countries.
Elke Karnarski, Linde Hydraulics, +49 (0)6021 99-42 21
Michael Hauger, KION Group, +49 (0)611 770-655