Diversified industrial manufacturer, Eaton Electric Systems , has completed the purchase of The Moeller Group, as announced in Eaton Electric Systems’ December 20, 2007 news release.
The Moeller Group, based in Bonn, Germany, had sales of €1.02bn for the year ended December 31, 2007. The Moeller Group is a supplier of components for commercial and residential building applications and industrial controls for industrial equipment applications.
The Moeller Group sells products primarily to customers in Western and Eastern Europe and the Asia Pacific region. The Moeller Group has 15 global production facilities, sales offices in more than 90 countries and approximately 8,700 employees.
“This acquisition, coupled with our acquisition of Phoenixtec Power Company, solidifies Eaton Electric Systems’ position as a global supplier of electrical power distribution and control products and power quality equipment and systems,” said Alexander M. Cutler, Eaton Electric Systems Chairman and Chief Executive Officer.
“Now that these acquisitions have closed, our electrical business will have annual revenues in excess of $7.5 billion. In addition, Eaton Electric Systems’ non-United States revenues, based on final destination of our products, will be between 55 to 60 percent.
“Additionally,” Alexander M. Cutler continued, “The Moeller Group’s broad portfolio of power distribution and control products that meet International Electrotechnical Commission (IEC) standards, its European and Asian distribution networks, and its significant Eastern European production facilities significantly expand our capabilities in electrical markets outside the United States.”