Dublin, Ireland... Eaton (NYSE:ETN), a global power management company, today announced that it has completed the acquisition of a 50% stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd. (Huineng). Huineng Electric is a Chinese company focusing on the production and sales of low-voltage circuit breakers.
"This strategic partnership is an important milestone in Eaton's growth strategy." "The combination of customized products and global channels enables us to capture high-growth market opportunities for business growth, such as renewable energy, grid modernization, commercial buildings and industrial," said Hui Liu, President of Eaton Electric Asia Pacific. ”
Jiangsu Huineng Electric Co., Ltd. is a high-tech electrical equipment manufacturer in China. Founded in 2007 and headquartered in Zhenjiang, China, Huineng Electric's products are widely used in a wide range of industries, including wind, solar and power plants, and are fully recognized by customers.
As an intelligent power management company, Eaton is committed to improving the quality of life and the environment. Now and in the future, we are committed to operating with integrity, sustainability and helping our customers better manage their motivation. Driven by electrification and digitalization, we are accelerating the global transition to renewable energy, helping to solve the most pressing power management challenges and creating more value for our stakeholders and society.
Eaton Corporation has been listed on the New York Stock Exchange for nearly a century since its founding in 1911. In 2021, Eaton had sales of $19.6 billion and operations in more than 170 countries. Eaton entered the Chinese market in 1993 and has since grown rapidly in China. In 2004, the company's Asia Pacific headquarters moved from Hong Kong to Shanghai. In China, Eaton has approximately 8,000 employees and 19 manufacturing facilities.
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Surge: Defined as an output voltage rms greater than 110% of the rated current and with a delay of one or more cycles. Power surges are mainly caused by the shutdown of large and medium-sized electrical equipment connected to the power grid, and the high voltage caused by the sudden unloading of the power grid.
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