Danfoss and Eaton. Among the giants of hydraulics technology for mobile applications, Eaton is one of the most diversified company, actively working also in the automotive, aerospace and electrical sectors. Not anymore, in the sense that Danfoss has officially absorbed Eaton’s Hydraulics business for a cash purchase price of $3.3 billion. While waiting to go into details of the operation and the implications it will have on the synergy between the two groups, also in terms of contribution to the electrification of the powertrain, we quote some statements.
Danfoss and Eaton. A once-in-a-lifetime opportunity
«Today, we take a significant and transformational step in creating a global leader in mobile and industrial hydraulics. It is a once-in-a-lifetime opportunity to combine our largely complementary portfolios and geographic footprints. Eaton Hydraulics is a highly respected player in the global industry, recognized for its dedicated people and strong brands. With this agreement, we continue to invest in our core hydraulics business and digital solutions to stay a strong technology partner,» says Kim Fausing, Danfoss President and CEO.
«When complete, this deal will bring together two talented teams with deep hydraulics knowledge and expertise. And Eaton’s hydraulics team will be part of a company that is committed to becoming a global leader in mobile and industrial hydraulics. The combined business will also benefit customers and distributors by offering industry-leading technology and a much broader portfolio of hydraulic solutions» says Craig Arnold, Eaton Chairman and CEO.
A full-line hydraulics player
«Hydraulics is our core, and we have for years strengthened our Power Solutions business through high customer focus, as well as through significant investments in technology leadership. 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,» says Eric Alström, President of Danfoss Power Solutions.