7/31/2008
Eaton Acquires Indian Engine Valves Business
Eaton Corp. has acquired the engine valves business of Kirloskar Oil Engines Ltd.
The engine valves business employs approximately 500 people in
India and had 2007 sales of approximately $5 million. The business
designs, manufactures and sells intake and exhaust valves for diesel
and gasoline engines. Terms of the transaction were not disclosed.
"Through this acquisition, we will be able to use our global
resources to meet the needs of the domestic Indian customer base and
provide support to our customers around the world,” said Joseph
Palchak, chief executive officer – Automotive Group. “In addition,
Kirloskar’s new facility in Ahmednagar, India, provides Eaton with a
first-class valve facility, expansion opportunities and an experienced
workforce.”
For more information about Eaton Corp., visit: www.eaton.com.
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