Power management company Eaton announced it has signed an agreement to acquire a 50% stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd. (Huineng), which manufactures and markets low-voltage circuits breakers in China and had revenues of $35 million in 2021.
Application-tailored product offerings
“Huineng’s application-tailored product offerings and manufacturing base in China, combined with Eaton’s expertise and global channels, will enable us to further expand to meet the needs of high-growth market segments such as renewable energy and grid modernization,” said Howard Liu, president, Asia-Pacific Region, Electrical Sector, Eaton.
“We are excited about the opportunities this strategic relationship will bring.” The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to close in the third quarter of 2022.
Electrical equipment manufacturer
Jiangsu Huineng Electric Co., Ltd products are widely recognized across the wind and solar and power plants
Jiangsu Huineng Electric Co., Ltd. is a Chinese high-tech electrical equipment manufacturer with an attractive portfolio that includes breakers for renewable energy applications.
Founded in 2007 and headquartered in Zhenjiang, China, its products are widely used and recognized across key markets including wind and solar and power plants.
power management company
Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. It is guided by the commitment to do business right, operate sustainably, and help the customers manage power currently and well into the future.
By capitalizing on the global growth trends of electrification and digitalization, it is accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for the stakeholders and all of society.