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Press release from Business Wire

Eaton Agrees to Acquire Medium Voltage Switchgear Manufacturer E.A. Pedersen Company

Friday, December 16, 2011

Eaton Agrees to Acquire Medium Voltage Switchgear Manufacturer E.A. Pedersen Company08:30 EST Friday, December 16, 2011 CLEVELAND (Business Wire) -- Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced it has agreed to acquire E.A. Pedersen Company, a manufacturer of medium voltage switchgear primarily for the electrical utilities industry. The deal is subject to customary closing conditions. Terms were not disclosed. The Omaha, NE- based company's products include metal-clad switchgear, power control buildings and relay control panels. E.A. Pedersen does business as Pedersen Power Products and employs about 150 people. The company is expected to have 2011 sales of approximately $37 million. “The acquisition of Pedersen Power Products will strengthen Eaton's medium voltage assembly business by adding important utility-oriented power products and custom engineering capabilities for our U.S. markets,” said Rich Stinson, Eaton's president, Power Distribution, Electrical Sector for the Americas Region. Eaton Corporation is a diversified power management company with 2010 sales of $13.7 billion. Celebrating its 100th anniversary in 2011, 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 73,000 employees and sells products to customers in more than 150 countries. For more information, visit www.eaton.com. Eaton CorporationScott Schroeder, 216-523-5150scottrschroeder@eaton.com