CLEVELAND — Eaton Corp. has signed an agreement with Saint-Gobain Performance Plastics to purchase its Synflex business unit. The transaction, expected to close by the end of March, is subject to regulatory approvals and other customary closing conditions. Terms were not disclosed.
Synflex, which had 2005 sales of about $120 million, makes thermoplastic hoses and tubing for a range of industries, including transportation, beverage dispensing, fluid power and specialty applications. The company employs about 450 people in four locations – three in the U.S. and one in Belgium.
“The acquisition of Synflex will provide Eaton with an expanded range of thermoplastic hose and tubing products for customers in a broad range of fluid conveyance applications, including the transportation, oil and gas, material handling and utility industries,” said Craig Arnold, senior vice president and president – Fluid Power Group.
Saint-Gobain Performance Plastics is part of Compagnie de Saint-Gobain (Paris), a worldwide producer, processor and distributor of materials. Saint-Gobain had sales of approximately $43.7 billion in 2005 and employs about 200,000 people in 55 countries.
For more information about Eaton, go to: www.eaton.com .
_______________________________________
Click here to view the rest of today’s headlines.
