Eaton to Sell Vehicle Switch/Electronics Division
Eaton Corp., Cleveland, Ohio, has announced it plans to sell its $330 million worldwide Vehicle Switch/Electronics Division because it the business no longer fits the company's longer-term strategic objectives
Eaton Corp., Cleveland, Ohio, has announced it plans to sell its $330 million worldwide Vehicle Switch/Electronics Division because it the business no longer fits the company's longer-term strategic objectives.
Eaton anticipates that a transaction will be completed by the end of year, but says it has no immediate plans for the use of proceeds from the sale.
"This decision was a difficult, but necessary one for us,” said Alexander M. Cutler, Eaton Chairman and CEO. "We have decided to concentrate our resources on automotive applications and subsystems where we have greater growth prospects."
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