Eaton buys out Argo-Tech's aerospace business
20 Mar 2007
Cleveland, USA: Diversified industrial manufacturer Eaton Corporation has announced that it has completed its purchase of AT Holdings Corporation, the parent of Argo-Tech Corporation. Argo-Tech's aerospace business is a leader in high performance aerospace engine fuel pumps and systems, airframe fuel pumps and systems, and ground fueling systems for commercial and military aerospace markets.
Eaton announced plans in December last year to purchase the business from private equity firms Vestar Capital Partners and Greenbriar Equity Group. Prior to the sale AT Holdings was reorganized to exclude its cryogenics and other non-aerospace businesses along with certain other assets from the transaction.
Eaton Corporation is a diversified industrial manufacturer with 2006 sales of $12.4 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drive-train systems for safety and fuel economy; and automotive engine air management systems, power-train solutions and specialty controls for performance, fuel economy and safety.
Eaton has 60,000 employees and sells products to customers in more than 125 countries.
