Business Wire | Jul 21, 2021 06:45AM EDT

Eaton Obtains All Regulatory Approvals to Close the Sale of Its Hydraulics Business to Danfoss

Jul. 21, 2021

DUBLIN--(BUSINESS WIRE)--Jul. 21, 2021--Power management company Eaton (NYSE:ETN) is pleased to announce that the U.S. District Court for the District of Columbia has approved an order paving the way for the sale of the company's Hydraulics business to Danfoss A/S. The company now has all the regulatory approvals it needs to close the transaction. Eaton currently expects the sale to close August 2, 2021.

Eaton's mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power - more safely, more efficiently, and more reliably. Eaton's 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 96,000 employees. For more information, visit Eaton.com.

This news release contains forward-looking statements about the expected closing of the sale of our Hydraulics business. These statements should be used with caution and are subject to various risks and uncertainties, some of which are outside of the company's control. Factors that could cause these statements to become untrue include possible delay or difficulty closing the transaction. We do not assume any obligation to update these forward-looking statements.

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CONTACT: Jennifer Tolhurst, Media Relations, +1 (440) 523-4006 jennifertolhurst@eaton.com