DUBLIN, July 05, 2022--(BUSINESS WIRE)--Power management company Eaton (NYSE:ETN) today announced it has completed the acquisition of a 50% stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd. (Huineng), which manufactures and markets low-voltage circuit breakers in China.
"This strategic relationship marks an important milestone in Eaton’s growth strategy," said Howard Liu, president, Asia-Pacific Region, Electrical Sector, Eaton. "The combination of application-tailored products with our global distribution channels positions us to capitalize on opportunities in high-growth market segments such as renewable energy, grid modernization, commercial buildings and industrial."
Jiangsu Huineng Electric Co., Ltd. is a Chinese high-tech electrical equipment manufacturer. Founded in 2007 and headquartered in Zhenjiang, China, its products are widely used and recognized across key markets including wind and solar and power plants.
Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.
Founded in 1911, Eaton has been listed on the NYSE for nearly a century. We reported revenues of $19.6 billion in 2021 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220705005218/en/
Jennifer Tolhurst, +1 (440) 523-4006