It has just been announced that Eaton Corporation has completed its purchase of The Moeller Group. It's intention to acquire was originally announced in December 2007:
The Moeller Group is a leading supplier of components for commercial and residential building applications and industrial controls for industrial equipment applications, and is based in Bonn. It had sales of €1.02 bn for the year ended December 31, 2007. The company sells primarily to customers in Western and Eastern Europe, and also to the Asia Pacific region. The Moeller Group has 15 global production facilities, sales offices in more than 90 countries and approximately 8,700 employees.
Commented Alexander M. Cutler, Eaton chairman and CEO: "This acquisition, coupled with our acquisition of Phoenixtec Power Company, Ltd., solidifies Eaton's position as a leading global supplier of electrical power distribution and control products and power quality equipment and systems," "Now that these acquisitions have closed, our electrical business will have annual revenues in excess of $7.5bn. In addition, Eaton's non-United States revenues, based on final destination of our products, will be between 55 to 60%.
"Additionally," he continued, "The Moeller Group's broad portfolio of power distribution and control products that meet International Electrotechnical Commission (IEC) standards, its European and Asian distribution networks, and its significant Eastern European production facilities significantly expand our capabilities in electrical markets outside the US."
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