Industrial manufacturer Eaton Corporation has announced it has completed the purchase of The Moeller Group.
The Moeller Group, based in Bonn, Germany, had sales of €1.02bn for the year ending 31December 2007. The company is a supplier of components for commercial and residential building applications and industrial controls for industrial equipment applications. Moeller sells products primarily to customers in Western and Eastern Europe and the Asia Pacific region. The Moeller Group has 15 global production facilities, sales offices in more than 90 countries and approximately 8,700 employees.
"This acquisition, coupled with our acquisition of Phoenixtec Power Company, solidifies Eaton's position as a leading global supplier of electrical power distribution and control products and power quality equipment and systems," said Alexander M. Cutler, Eaton chairman and chief executive officer. "Now that these acquisitions have closed, our electrical business will have annual revenues in excess of $7.5bn. In addition, Eaton's non-US revenues, based on final destination of our products, will be between 55 and 60%.
"Additionally," Cutler continued, "The Moeller Group's broad portfolio of power distribution and control products that meet International Electrotechnical Commission (IEC) standards, its European and Asian distribution networks, and its significant Eastern European production facilities significantly expand our capabilities in electrical markets outside the United States."
Eaton Corporation is a diversified industrial manufacturer with 2007 sales of $13.bn. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 79,000 employees and sells products to customers in more than 150 countries.