Power management company Eaton (NYSE:ETN) announced today it has completed the sale of its Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions business to Safran for $270 million. The transaction was announced on January 20, 2014.
The Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions business employs approximately 350 people at manufacturing facilities in Costa Mesa, California and Sarasota, Florida. The business produces illuminated switches, cockpit panel assemblies, pilot controls, and passenger safety unit latches, as well as circuit protection, power distribution and switch components and sub-systems for aerospace and industrial applications. Sales were approximately $102 million in 2013.
Eaton is a power management company with 2013 sales of $22.0 billion. Eaton provides energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton has approximately 101,000 employees and sells products to customers in more than 175 countries. For more information, visit www.eaton.com.