Eaton executives denied sales of auto parts business

Eaton executives denied sales of auto parts business

According to foreign reports, Eaton ’s chairman and CEO Alexander Cutler recently stated that the company does not have plans to sell auto parts business. Bloomberg quoted anonymous sources as saying on June 10, 2013 that Eaton was considering selling its auto parts business in order to focus on the growing power and lighting business. It is reported that the value of this part of the business may be about 1 billion US dollars.

Korenge denied the above report at a conference in Chicago, USA: “We did not discuss the sale of auto parts business before and now. This business is an important part of our company and it is also a profitable one. section."

Some analysts expect that due to Eaton’s huge purchase of Cooper Industries Plc last year, expanding the scale of its electrical business, the company’s automobile and truck parts business may be sold. Due to the sluggish European auto market, sales of Eaton’s auto parts in the first quarter of this year fell by 11% year-on-year, and operating profit fell by 17.5%.

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