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Diversified industrial manufacturer Eaton Corp. (NYSE: ETN), Cleveland, OH, has agreed to acquire Polimer Kauçuk Sanayi ve Pazarlama A.Ş., a Turkish manufacturer of hydraulic and industrial hose. Terms of the acquisition were not disclosed.
Polimer Kauçuk Sanayi ve Pazarlama A.Ş. is headquartered near Istanbul, Turkey. The business employs more than 2,100 people and had 2011 sales of US$335 million.
The company’s primary markets include construction, mining, agriculture, oil and gas, manufacturing, food and beverage, and chemicals.
“The planned acquisition of Polimer Kauçuk will significantly broaden Eaton’s portfolio of hose products,” said Alexander M. Cutler, Eaton CEO. “This acquisition will also further expand Eaton’s global hose manufacturing footprint and allow us to better serve emerging markets with a range of hose solutions. We anticipate the transaction will close early in the second quarter.”