Industrial manufacturer Eaton Corporation has reached an agreement with Saturn Electronics & Engineering to purchase its fuel components division.
The fuel components division of Saturn Electronics & Engineering designs, manufactures and sells fuel containment valves for vehicle safety in the event of vehicle rollover or accident impacts, as well as fuel shutoff valves to prevent splash back and vapour release during refuelling.
Saturn also produces valves to control Environmental Protection Agency-regulated fuel tank vapour emissions and a variety of other specialty actuators controlling motion and vibration.
The division employs approximately 100 people at a facility in Oxford, Michigan. In 2006, the fuel components division had sales of approximately $28 million.
The terms of the deal were not disclosed. The transaction, expected to close in the second quarter, is subject to customary regulatory approvals and closing conditions.
Eaton Corporation’s 2006 sales were $12.4 billion. The company has 60,000 employees and sells products to customers in more than 125 countries.