CLEVELAND, OH — Diversified industrial manufacturer Eaton Corporation announced it has purchased Mexican automotive lifter manufacturer Morestana S.A. de C.V. for $8 million. Morestana, which was owned by DESC, S.A. de C.V., produces hydraulic lifters for automotive engine manufacturers and the automotive aftermarket.
Morestana had 2004 sales of $13 million. It has 230 employees and is based in Aguascalientes, Mexico, northwest of Mexico City.
“Morestana’s complementary product lines provide Eaton with the capability to deliver complete valve actuation products to our global customers,” said Joseph Palchak, vice president — engine air management operations. “The purchase strengthens our position in the automotive aftermarket and with engine manufacturers, offering products and business opportunities for both our North American and Mexican customers.”
DESC, S.A. de C.V. is one of the largest industrial groups in Mexico, with 2004 sales of approximately US $2 billion and nearly 14,000 employees, which through its subsidiaries, is in the automobile parts, chemical, food and real estate sectors.
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