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Diversified industrial manufacturer Eaton Corp. (NYSE: ETN), Cleveland, OH, has agreed to acquire substantially all of the shares of Jeil Hydraulics Co., Ltd. Headquartered in South Korea, Jeil Hydraulics is a manufacturer of track drive motors, swing drive motors, main control valves and remote control valves for the construction equipment market. Terms were not disclosed.
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"The acquisition of Jeil Hydraulics provides Eaton with a well-established portfolio of hydraulic components for the construction equipment market in Asia," said William R. VanArsdale, president, Eaton's Hydraulics Group. "The combination of Jeil Hydraulics' customer relationships and Eaton's manufacturing and supplier network will improve our presence and strengthen future growth in the region."
Jeil Hydraulics is headquartered in Busan, South Korea, and had 2011 sales of approximately $189 million.