Eaton acquires Turkish hydraulic and industrial hose business

William VanArsdale, president of Eaton's Hydraulics Group, says: "This acquisition represents Eaton's largest investment in Turkey to date. Turkey's stable economy makes it an attractive place to invest and Polimer's manufacturing presence in this country positions us for growth not only in Turkey but also in Europe, the Middle East and beyond."

Founded in 1957, Polimer is headquartered in Turkey. It has manufacturing locations in Israel and Turkey, a sales office in Singapore and assembly operations in China. Many of its products are sold globally under the SEL Hose brand name.

"This acquisition enhances our global fluid conveyance business and the value we bring to our customers and distributors," said Astrid Mozes, president of Eaton's Hydraulics Group in Europe, Middle East and Africa (EMEA). "Specifically, this acquisition represents an important step in our growth strategy because it will significantly broaden our hose product portfolio, expand our global hose manufacturing footprint and allow us to better serve emerging markets."

The business employs more than 2,100 people and had 2011 sales of approximately $335 million. The company's primary markets include construction, mining, agriculture, oil and gas, manufacturing, food and beverage, and chemicals.

This acquisition is the largest move for Eaton into Turkey, and the proximity to growth markets and economic stability was key to the decision. The company believes that their expanding manufacturing footprint will better serve emerging markets. To find out more about Eaton's Hydraulics Group fluid conveyance products, visit the website at www.eaton.com/hydraulics.