Eaton Acquires Ultronics Limited and Its Advanced Electro-Hydraulic Valve System Technology
07 Janeiro 2004 - 5:30AM
UK Regulatory
Eaton Corporation
Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced
it has reached agreement to purchase Ultronics Limited and its advanced
electro-hydraulic valve system technology. Terms were not disclosed.
The Cheltenham, UK-based company's sophisticated electro-hydraulic control
valves, systems and software technology are utilized in mobile applications in
construction, forestry, agriculture and other markets.
"This technology is an important strategic addition to our hydraulics product
portfolio within Eaton," said Craig Arnold, senior vice president and group
executive for its Fluid Power business. "We will be able to maximize the
potential of Ultronics' expertise and innovative technology through our global
presence, capabilities and reputation in the hydraulics industry."
The purchase includes Ultronics' Cheltenham design center and a sales and
applications office in Sweden.
"We are delighted to conclude this sale to Eaton," said Steve Turner, chief
executive officer of the Ultronics Group. "The Ultronics technology has been
developed and refined over the last 10 years, and can now go on to achieve its
full market potential with Eaton's support."
Eaton is a global diversified industrial manufacturer with 2002 sales of $7.2
billion that is a leader in fluid power systems; electrical power quality,
distribution and control; automotive engine air management and fuel economy; and
intelligent systems for fuel economy and safety in trucks. Eaton has 51,000
employees and sells products in more than 50 countries. For more information,
visit www.eaton.com.
The Ultronics Group's other principal activity is the design, development and
supply of thin-film pressure sensor technologies through its Senstronics
business. The Group, based in Cheltenham (Gloucestershire) and Newton Aycliffe
(Co. Durham) employs 70 people and supplies advanced sensing solutions to
customers globally.
CONTACT: Eaton Corporation, Cleveland
Gary Klasen, 216-523-4736
Email: garyklasen@eaton.com