Eaton Buys Remaining 50 Percent Of Belgium's Schréder-Hazemeyer

Terms of deal not disclosed.

Eaton Corp. said Sunday it has acquired the remaining 50 percent of Schréder-Hazemeyer (S-H) it didn't already own from Schréder SA.

Terms of the deal were not disclosed.

Schréder-Hazemeyer is a manufacturer of low and medium voltage electrical distribution switchgear based in Brussels, Belgium. The company has 40 employees.

Eaton, a diversified industrial manufacturer, said the deal will allow it to expand its product offering to customers in S-H’s key markets, which include Belgium, Burundi, Congo and Rwanda. S-H will also work closely with Eaton’s international operations to expand its geographic reach.

Eaton originally acquired its existing 50 percent ownership of S-H when it purchased the electrical division of Delta plc in 2003.