Home » Eaton to Acquire Two Electrical Suppliers for $2.7B
Eaton to Acquire Two Electrical Suppliers for $2.7B
December 20, 2007
Diversified industrial manufacturer Eaton Corp., Cleveland, OH, plans to acquire two electrical suppliers -one in Europe and one in Asia-Pacific. The acquisitions' combined estimated sales for the year ended Dec. 31, 2007, are $2 billion.   ; When the acquisitions close, Eaton's electrical business will have annual sales of more than $7.5 billion.   ; The European acquisition is of The Moeller Group, Bonn, Germany, a supplier of components for commercial and residential building applications, and industrial controls for industrial equipment applications. The company sells products primarily to customers in Western and Eastern Europe and in Asia Pacific. The agreed purchase price for Moeller is & euro; 1.55 billion (US$2.23 billion).   ; The Moeller Group has estimated sales of & euro; 1.02 billion (US $1.47 billion) for the 12 months ending Dec. 31, 2007. The company has 15 global production facilities, sales offices in more than 90 countries, and 8,700 employees.   ; Eaton has also made an offer for Phoenixtec Power Company Ltd., Taipei, Taiwan. Phoenixtec manufactures single- and three-phase uninterruptible power supply (UPS) systems that are sold globally. Phoenixtec has positions in China, Southeast Asia, and Eastern Europe. The purchase price, assuming 100% of outstanding shares are purchased, would be US$565 million.   ; The estimated 2007 sales of Phoenixtec Power Company Ltd. are NT$16.1 billion (US$495 million). The company has manufacturing facilities in China and Taiwan, and employs 5,800 people.   ; Eaton had 2006 sales of $12.4 billion.