RTTNews | Apr 26, 2021 07:36AM EDT

07:36 Monday, April 26, 2021 (RTTNews.com) - Power management company Eaton (ETN) announced Monday it has signed an agreement to acquire a 50 percent stake in Jiangsu YiNeng Electric's busway business, which manufactures and markets busway products in China and had sales of $60 million in 2020. This will add busway to Eaton's power distribution portfolio in Asia Pacific.

The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to close in the third quarter of 2021. After the transaction closes, the company will do business as Eaton Busway Jiangsu.

Founded in 2002 and headquartered in Jiangsu, China, the company serves the data center, infrastructure, commercial building, telecommunications, and industrial segments.

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