Safran has agreed to purchase Eaton‘s (NYSE: ETN) aerospace power distribution and cockpit services unit for $270 million as Eaton seeks to focus on its core business areas.
Eaton and Safran intend to close the deal in the first half of 2014, pending regulatory approvals and approval by the Eaton board of directors, Eaton said Monday.
Uday Yadav, president of Eaton’s aerospace group, said the company intends to focus on its hydraulics, fuel, conveyance, motion control and engine businesses after the sale closes.
The aerospace power distribution and cockpit services unit manufactures switches, cockpit assemblies, pilot controls, passenger safety latches, circuit protection, power distribution parts and components for aerospace and industrial applications.
Nearly 350 employees work for the unit at facilities in Costa Mesa, Calif., and Sarasota, Fla.