Eaton Corporation announced it has acquired the engine valves business of Kirloskar Oil Engines Ltd. Terms of the transaction were not disclosed.
“Through this acquisition, we will be able to use our global resources to meet the needs of the domestic Indian customer base and provide support to our customers around the world,” said Joseph P. Palchak, chief executive officer-Automotive Group. “In addition, Kirloskar's new facility in Ahmednagar, India, provides Eaton with a first-class valve facility, expansion opportunities, and an experienced workforce.”
The engine valves business of Kirloskar employs approximately 500 people in India and had 2007 sales of about $5 million.