Eaton Corp., Cleveland, has signed an agreement to purchase the electrical division of Delta plc for $205 million.
Delta focuses on medium- and low-voltage products. Its major electrical brands include MEM, Holec, Bill, Home Automation, Elek and Tabula. Headquartered in the United Kingdom, Delta's electrical division has 3,400 employees and 2001 sales of approximately $366.5 million. The Delta business will be integrated into Eaton's Industrial and Commercial Controls segment.
“The acquisition of Delta's electrical division will greatly strengthen Eaton's ability to support our multinational customers in our electrical business,” said Alexander “Sandy” Cutler, Eaton chairman and chief executive officer. “We will be adding well-recognized brands and distribution networks within key European and Asian markets.”
Randy W. Carson, Eaton senior vice president and group executive for the Industrial and Commercial Controls segment, added, “Delta's electrical division has a long-established customer base and a well-recognized product line in several important markets outside of North America.”