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Eaton Electric completed a 50% capital increase and strategic cooperation with Huanyu Group, a Chinese electrical equipment manufacturer, forming the joint venture Huanyu High-Tech Co., Ltd. The deal was announced on March 30, 2021.
Eaton completed the acquisition of a 50 percent stake in HuanYu High Tech, a subsidiary of HuanYu Group that manufactures low-voltage circuit breakers and contactors in China and Asia-Pacific.
Eaton signed an agreement to acquire a 50% stake in HuanYu High Tech, a subsidiary of HuanYu Group that manufactures low-voltage circuit breakers and contactors in Wenzhou, China. HuanYu High Tech had 2019 sales of $106 million. The transaction is expected to close in Q2 2021.