Benzinga | Jun 25, 2021 06:47AM EDT

Eaton Reports Purchase Of 50% Stake In Jiangsu YiNeng Electric's Busway Business, No Terms Disclosed

Power management company Eaton (NYSE:ETN) today announced it has completed the acquisition of 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 strategic agreement with YiNeng marks an exciting milestone for both of our companies," said Howard Liu, president, Asia-Pacific Region, Electrical Sector and Corporate China, Eaton. "The combination of YiNeng's busway capabilities and strong presence in China with Eaton's broad power distribution and power quality portfolio enables us to expand packaged solutions that meet the needs of customers in the Asia-Pacific region."

Jiangsu YiNeng Electric is a leading Chinese electrical equipment manufacturer. Founded in 2002 and headquartered in Jiangsu, China, the company serves the data center, infrastructure, commercial building, telecommunications, and industrial segments.