Eaton to acquire 50% stake in Jiangsu Huineng Electric's circuit breaker business

Eaton has signed an agreement to acquire a 50% stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd., which manufactures low-voltage circuit breakers in China. The transaction is expected to close in the third quarter of 2022.

“Huineng’s application-tailored product offerings and manufacturing base in China, combined with Eaton’s expertise and global channels, will enable us to further expand to meet the needs of high-growth market segments such as renewable energy and grid modernization.”eaton.com

• 2 sources
• eaton.comEaton to acquire 50% stake in Jiangsu Huineng Electric Co., Ltd.’s circuit breaker businessMay 2, 2022
• oaklins.comChinese innovation in the electrical equipment sector comes to the international marketJun 7, 2022

Summarized from public sources; check the original articles before acting on it.