Recently, Eaton , a diversified industrial product manufacturer, announced that it has agreed to acquire the vast majority of all shares in Jeil Hydraulics . The Korea-based First Hydraulic Co., Ltd. is a manufacturer of rail drive motors, swing drive motors, main control valves, and remote control valves for the engineering equipment market. The transaction will be based on customary closing conditions without specific terms being disclosed.
William R. Van Arsdale, president of Eaton’s Hydraulics Group, said: “This acquisition of the first oil pressure will provide Eaton with a comprehensive portfolio of hydraulic components for the Asian construction equipment market. The effective integration of the first hydraulic company's customer relationships and Eaton’s manufacturing capabilities and supplier network will enhance Eaton’s existing business performance and promote the future development of the Asian business.â€
The first oil pressure company is headquartered in Busan, South Korea, with 2011 sales of approximately 189 million US dollars.
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