The agreement will help Eaton further expand its distribution business in the Asia Pacific market

After the acquisition, Eaton will better serve fast-growing data center and important commercial market customers

Dublin, Ireland... Power management company Eaton (NYSE Code: ETN) announced today that it has completed the purchase of 50% shares in the bus business of Jiangsu Yineng electric group. Jiangsu Yineng electric group bus business produces and sells bus products in China, with sales of US $60 million in 2020.

"The strategic agreement with Yineng is an exciting milestone for both of us," said Mr. Liu Hui, President of Eaton Electric Group Asia Pacific and President of Eaton Electric Group China. "The combination of Yineng's bus strength and its excellent position in the Chinese market with Eaton's extensive distribution and power quality business will enable us to better meet the needs of customers in the Asia Pacific region for overall solutions."

Jiangsu Yineng electric group is a well-known Chinese electrical equipment manufacturer. Founded in 2002 and headquartered in Jiangsu, China, the company mainly serves data center, infrastructure, commercial buildings, communication and industry.

Eaton is committed to improving the quality of human life and environmental quality through the use of power management technology and services. We provide a variety of sustainable solutions to help customers manage power, fluid power and mechanical power more safely, efficiently and reliably. In 2020, Eaton's sales reached US $17.9 billion, with about 94000 employees worldwide and products covering more than 175 countries.