Press release from Business Wire
Eaton Agrees to Acquire ACTOM's Low-Voltage Electrical Business in South Africa
Friday, January 21, 2011
Eaton Agrees to Acquire ACTOM's Low-Voltage Electrical Business in South Africa08:00 EST Friday, January 21, 2011
CLEVELAND (Business Wire) -- Diversified industrial manufacturer Eaton Corporation (NYSE:ETN)
announced today it has reached agreement to acquire ACTOM (Pty) Ltd.'s
low-voltage electrical business in South Africa. Terms of the deal,
which are subject to regulatory approvals and other customary closing
conditions, were not disclosed.
ACTOM's low-voltage business is a leading South African manufacturer and
supplier of motor control components, engineered electrical distribution
systems and uninterruptible power supply systems. Headquartered in
Johannesburg, ACTOM's low-voltage business had sales of $58 million
during the last twelve months. The business has 480 employees and two
manufacturing facilities in South Africa.
“The acquisition of ACTOM's low-voltage business establishes a direct
presence for Eaton in the attractive South African market and serves as
a platform for growth in the region,” said Frank Campbell, president of
Eaton's Europe, Middle East and Africa Region for the Electrical Sector.
“The combination of Eaton's business with ACTOM's low-voltage business
will offer a broader set of power distribution and power quality
solutions that enable our customers to more effectively grow and compete
in their markets.”
ACTOM (Pty) Ltd. is a leading manufacturer and distributor of electrical
equipment in South Africa, employing approximately 6,000 people and
having an annual order intake in excess of 5 billion rand. For more
information, visit www.actom.com.za.
Eaton Corporation is a diversified power management company with 2009
sales of $11.9 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 70,000 employees and sells products to customers in more
than 150 countries.
Eaton CorporationGary Klasen, 216-523-4736
