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Eaton agrees to acquire Chinese company

Eaton Corp has signed an agreement to purchase the businesses of Winner Group Holdings Ltd, a China-based company that produces hydraulic hose fittings and adapters for the greater Chinese market.

This purchase will be completed through a combination of share and asset purchases; terms were not disclosed. Winner had 2003 sales of $28 million. The purchase is expected to be completed in the first quarter of 2005.

Winner is based in Hong Kong with operations in mainland China in Shanghai, Ningbo, Guangzhou, and Luzhou. It primarily serves the Chinese market with products used in stationary and mobile construction equipment applications. The company employs about 750 people.

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