Author: Jane Edwards|| Date Published: June 2, 2021
Power management company Eaton (NYSE: ETN) has wrapped up its acquisition of Cobham Mission Systems as part of efforts to expand its aerospace business’ fuel systems offerings.
“This acquisition, along with our prior acquisition of Souriau-Sunbank, positions our Aerospace business well for the future,” Heath Monesmith, president and chief operating officer for Eaton’s industrial sector, said in a statement published Tuesday.
In February, Eaton agreed to buy Cobham Mission Systems for approximately $2.83 billion, including $130 million in tax benefits.
Cobham Mission Systems manufactures air-to-air refueling systems, actuation and environmental systems for defense markets. The company has approximately 2,000 employees and manufacturing facilities in the U.S. and the U.K.
Eaton delivers technology platforms and services to help clients manage electrical, mechanical and hydraulic power. The company posted $17.9 billion in 2020 revenues and has about 94,000 employees supporting clients in more than 175 countries.
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