Eaton Sells Electrical Power Resistor Unit
10 March 2000
Eaton Sells Electrical Power Resistor Unit
CLEVELAND--March 9, 2000--Eaton Corporation today said it has sold its specialty power resistor business to Halma p.l.c. of the United Kingdom, for an undisclosed amount.The resistor unit, which designs and manufactures specialty electrical power equipment used in traction, motor control and power generation markets, is based in Milwaukee, and had 1999 sales of $10.5 million. The unit's products are used in dynamic braking applications on locomotives and transit vehicles, as well as for motor control on a wide range of industrial equipment. Eaton said it sold the unit because it does not meet the company's longer-term strategic objectives.
The resistor business has 102 employees located in Milwaukee and Asheville, N.C., in the U. S., and in Airdrie, Alberta, Canada and Melton Constable, Norfolk, in the U. K. Eaton said it expected up to 49 people to be affected at the Milwaukee facility as a result of the sale, but none in the North Carolina and Canadian facilities. Halma will determine employee requirements for the U.K. facility.
Eaton is a global manufacturer of highly engineered products that serve industrial, vehicle, construction, commercial, aerospace and semiconductor markets. Principal products include hydraulic products and fluid connectors, electrical power distribution and control equipment, truck drivetrain systems, engine components, ion implanters and a wide variety of controls. Headquartered in Cleveland, the company has 63,000 employees and 195 manufacturing sites in 23 countries around the world. Eaton's sales for 1999 were $8.4 billion. The Internet address for Eaton is: http://www.eaton.com/