US-based industrial group Eaton acquires the Moeller Group –
A global player in electrical engineering is created
Bonn, December 20th, 2007
- Eaton Corporation new owner of Moeller Group
- Moeller, the German industrial group, becomes core element of Eaton's business segment "Electrical"
- Two strong companies – one common global market focus
- New global player in electrical engineering created
Subject to approval by the antitrust regulators and authorities, Eaton Corporation, the quoted US-American industrial group, becomes the new owner of the Moeller Group. Today, the respective agreement was signed by Doughty Hanson & Co and Eaton Corporation.
European technological know-how for global roll-out
Moeller has technological leadership as to switching, protecting, and power distribution in Europe. Eaton is the leading producer of power distribution systems and components in the American NEMA / UL markets. Moeller's core competences in the IEC market (European standard) open up the highly developed European market for Eaton. Together, the two companies form a global player in electrical engineering.
Alexander M. Cutler, CEO, Eaton Corporation: "For us, Moeller is the gateway to the European market. The German model company has an efficient sales network and stands for excellent quality in Europe, one of our future markets. Together, we will be a global player in electrical engineering and will consistently orient ourselves along the lines of global growth opportunities."
Complementary product portfolios offer excellent market opportunities
Moeller's present global market strategy benefits from the global presence of the newly emerging group of companies. Theo Kubat, CEO, Moeller Group, on opportunities offered by the new owner, "Internationalisation has always been one of our strategic goals. Moeller is now part of a globally successful group of companies whose present portfolio truly complements our core business. Eaton Corporation offers us new perspectives as to internationalisation - above all in Africa, Asia, and the Middle East. We will make use of these opportunities."
The Moeller Group
The Moeller Group, headquartered in Bonn, is a leading international producer and supplier of components and systems for power distribution and automation for the industry and for infrastructure-related and residential buildings. The core business is carried out in the two business segments Power Distribution and For Motor Applications.
The company was founded in 1899. It has a global sales network and is represented in more than 90 countries of the world where it has 31 national companies, and 350 sales subsidiaries and distribution partners. The 16 global production plants are organised by way of an international manufacturing management concept. The Moeller Group employs about 8,600 people (as of April 30, 2007) and had a sales volume of approx. EURO 960 million in the 2006/07 business year.
Contact, Moeller Group
Eaton Corporation
Eaton Corporation (New York Stock Exchange: ETN), headquartered in Cleveland, Ohio, is a successful international industrial group. Core business is divided into four areas: Electrical operations focus on the production of power distribution systems and electrical components for medium and low voltage applications. The products range from complex solutions offered to key accounts to simple but innovative solutions for private households. Fluid Power operations is Eaton's expert for manufacturing and servicing fluid power systems for industrial but also for aircraft and automotive applications. These two operations account for approx. tow thirds of group sales. Truck operations worldwide manufacture and supply intelligent, safe and energy-saving heavy vehicle drives. Eaton's Automotive operations focus on producing drive and specific engine management systems for safe and low-consumption solutions for passenger cars.
The group was founded in 1911 and has about 62,000 employees globally. Today, it supplies customers in over 140 countries. In the 2006 business year, the company had a sales volume of USD 12.4 billion (EUR 8.45 billion).
Contact, Eaton Corporation
Glossary:
NEMA – National Electrical Manufacturers Association
NEMA is the trade association of choice for the electrical manufacturing industry, and is the largest trade association for manufacturers of electrical products in the United States.
IEC – International Electrotechnical Commission
The International Electrotechnical Commission (IEC) is the leading global organization that prepares and publishes international standards for all electrical, electronic and related technologies.
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