CLEVELAND--(Business Wire)--
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. For more information, visit www.eaton.com.
Eaton Corporation
Hilary Spittle, 216-523-5352
hilaryrspittle@eaton.com
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