Danfoss+eaton+rotation

Danfoss to Acquire Eaton’s Hydraulics Business for $3.3 Billion

Jan. 21, 2020
Acquisition will add 11,000 employees to Danfoss Power Solutions’ payroll.

The Danfoss Group announced today that it had reached an agreement with Eaton to acquire Eaton Hydraulics for $3.3 billion. Eaton Hydraulics serves agricultural, construction, and industrial markets and will be transferred into Danfoss Power Solutions. The transfer will add 11,000 employees to Danfoss, which currently employs 28,000 people. The deal is expected to close before the end of the year.

In a statement, Kin Fausing, the President and CEO of Danfoss, said “Eaton Hydraulics is a highly respected player in the global industry, recognized for its dedicated people and strong brands. By combining the knowledge and experience of the two businesses, our customers will benefit from unmatched expertise from a singal partner. With this agreement, we continue to invest in our core hydraulics business and digital solutions to stay a strong technology partner.”

Eaton Chairman and CEO Craig Arnold said he believed Eaton’s hydraulics business “will benefit greatly from being part of a company that has hydraulics at its core.”

Danfoss Power Solutions President Eric Alström concurred: “I believe our customers will benefit from combining these two businesses into a full-line hydraulics player dedicated to innovation and with a broad offering of products, robust distribution channels and tremendous geographic reach.” 

Popular Sponsored Recommendations

You Cannot Stay Competitive by Bolting New Technologies to a Legacy ERP

Oct. 20, 2023
Read this white paper to understand the benefits of shifting to a next-generation ERP system as part of a DOP.

The New Employee Experience Strategy for the Everywhere Workplace

June 14, 2023
HR and Comms leaders are challenged with managing a distributed workforce. Read this ebook for best practices for rebuilding the employee experience and staying connected and ...

Simplify Partner Engagement: A Guide for Manufacturers

Sept. 11, 2023
Design a winning partner program. Make selling faster and easier for partners, to increase mutual success with the help of automation. Download this guide to learn more about ...

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!