Power management company Eaton (NYSE:ETN) has completed the acquisition of a 50 percent stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd., which manufactures and markets low-voltage circuit breakers in China.
“This strategic relationship marks an important milestone in Eaton’s growth strategy,” said Howard Liu, president, Asia-Pacific Region, Electrical Sector, Eaton. “The combination of application-tailored products with our global distribution channels positions us to capitalize on opportunities in high-growth market segments such as renewable energy, grid modernization, commercial buildings and industrial.”
Jiangsu Huineng Electric Co., Ltd. is a Chinese high-tech electrical equipment manufacturer. Founded in 2007 and headquartered in Zhenjiang, China, its products are widely used and recognized across key markets including wind and solar and power plants.