Eaton To Purchase Fuel Components Division Of Saturn Electronics & Engineering, Inc.CLEVELAND -- Diversified industrial manufacturer Eaton Corporation This article is about an industrial manufacturer. For other meanings see Eaton. Eaton Corporation (NYSE: ETN) is a diversified industrial manufacturer with 2006 sales of $12.4 billion, putting it at 198 on the Fortune 500 for 2007. (NYSE NYSE See: New York Stock Exchange :ETN ETN Eaton Corporation (stock symbol) ETN Exchange Traded Note (investing) ETN European Travel Network ETN Electronic Tandem Network ETN Educational Telephone Network ) today announced it has reached a definitive agreement with Saturn Electronics & Engineering, Inc. to purchase its fuel components division. Terms were not disclosed. The transaction, expected to close in the second quarter, is subject to customary regulatory approvals and closing conditions. The fuel components division of Saturn Electronics & Engineering, Inc. designs, manufactures and sells fuel containment valves for vehicle safety in the event of vehicle rollover A graphic element in an application or on a Web page that changes its color or shape when the pointer is moved (rolled) over it. See JavaScript rollover. See also n-key rollover. or accident impacts, as well as fuel shutoff valves The prime requisites of a Safety Shutoff Valve are that it cannot be manually locked open and that it must be sensitive to any possible failure in the system. Naturally, the valve must shut tightly, and it is desirable to have a manual shutoff arrangement. to prevent splash back and vapor release during refueling. Saturn also produces valves to control Environmental Protection Agency-regulated fuel tank vapor emissions and a variety of other specialty actuators controlling motion and vibration. The division employs approximately 100 people at a facility in Oxford, Mich. In 2006, the fuel components division had sales of approximately $28 million. "This strategic acquisition complements our existing product portfolio and supports our strategy of providing automakers with technologies that meet their fuel economy, emissions, safety and security needs," said Stephen M. Buente, Eaton senior vice president and president - Automotive Group. "Saturn is
The Saturn I was the United States' first dedicated "space launcher," a rocket designed specifically to launch loads into Earth orbit. a highly regarded, high-quality design, engineering and manufacturing company and we are eager to incorporate this business into our growing Fuel Emission and Safety Controls business." Eaton Corporation is a diversified industrial manufacturer with 2006 sales of $12.4 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine Automotive engine The component of the motor vehicle that converts the chemical energy in fuel into mechanical energy for power. The automotive engine also drives the generator and various accessories, such as the air-conditioning compressor and power-steering air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 60,000 employees and sells products to customers in more than 125 countries. For more information, visit www.eaton.com. |
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