6/7/2012

Eaton buys Turkish hose manufacturer Polimer Kaucuk

Hürriyet - The US-based power management company Eaton Corporation has announced the acquisition of Turkish company, Polimer Kaucuk.

The acquisition of Polimer Kaucuk, a producer of hydraulic and industrial hoses tailored for use in the construction, mining, agriculture, oil/gas, manufacturing, food/beverage and chemical industries, is Eaton’s largest investment to date in Turkey. Turkey’s stable economy and close proximity to emerging markets make the takeover a crucial and strategic move in Eaton’s global growth plans, according to William VanArsdale, President of Eaton Hydraulics Group. The company plans to make Turkey a regional base to better serve markets in Eastern Europe, the Middle East and North Africa.

“Turkey’s economic stability is attracting a lot of attention that are turning into investments. There is a huge inflow of investments to the country in which Eaton has taken part,” said VanArdales at the press event in Istanbul, without disclosing the agreed amount for the deal. “Polimer’s existing production capabilities will not only help Eaton grow in Turkey but also in Europe, the Middle East and other regional markets,” he added.

Polimer Kaucuk’s turnover reached USD 335 million last year. With sales of USD 16 billion in 2011, Eaton has 72,000 employees in 150 countries.
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