Power management company Eaton (NYSE:ETN), Dublin, Ireland, on Tuesday announced it has agreed to acquire a 50% stake in HuanYu High Tech, a subsidiary of HuanYu Group that manufactures and markets low-voltage circuit breakers and contactors in China, and throughout the Asia-Pacific region. HuanYu High Tech had 2019 sales of $106 million and has production operations in Wenzhou, China.
“We are very pleased to establish this partnership with HuanYu Group,” said Howard Liu, president, Asia-Pacific Region, Electrical Sector and Corporate China, Eaton. “HuanYu High Tech’s strong product portfolio and manufacturing capabilities, combined with Eaton’s global scale and access to the broader Southeast Asian market, opens up many exciting opportunities for us to grow our business in Asia.”
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