WASHINGTON (dpa-AFX) - Eaton (ETN) announced agreement to sell its Hydraulics business to Danfoss A/S, a Danish industrial company, for $3.3 billion in cash. Eaton is retaining the Filtration and Golf Grip businesses currently reported in its Hydraulics segment.
Eaton's Hydraulics business accounted for 86 percent of the company's Hydraulics segment revenue in 2019. The business had sales of $2.2 billion in 2019 and employs approximately 11,000 people.
Eaton expects this transaction to close by the end of the year.
Copyright RTT News/dpa-AFX
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