Eaton to Purchase Brazilian Powertrain Manufacturer Pigozzi
Diversified industrial manufacturer Eaton Corporation announced it has reached agreement to purchase Pigozzi S.A. Engrenagens e Transmissões, an agricultural powertrain business located in Caxias do Sul, Brazil.
Pigozzi produces agricultural powertrain products, including transmissions, rotors and other drivetrain components, for tractors and harvesters. The business had 2004 revenues of about $42 million. The purchase price for the business is $30 million, and the transaction is expected to close in early March.
"Pigozzi's complementary product lines provide Eaton with the capability to deliver complete powertrains to our global customers," said James E. Sweetnam, senior vice president and group executive for Eaton's truck business. "The purchase strengthens our position in the agricultural market, offering products and business opportunities for both our truck and fluid power groups."
Eaton Corporation is a diversified industrial manufacturer with 2004 sales of $9.8 billion. Eaton is a global leader in fluid power systems and services for industrial, mobile and aircraft equipment; electrical systems and components for power quality, distribution and control; automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety; and intelligent truck drivetrain systems for safety and fuel economy. Eaton has 55,000 employees and sells products to customers in more than 125 countries.
Source: Eaton Corporation plc