Eaton and Shaanxi Fast Gear Announce a Joint Venture for Light-Duty Manual Transmissions in Asia-Pacific, Eastern Europe, and Africa
Eaton Corporation, PLC Ordinary Shares (ETN)
Last eaton corporation, plc ordinary shares earnings: 4/30 06:30 am
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Source: Business Wire
DUBLIN, Ireland--(BUSINESS WIRE)-- Power management company Eaton (NYSE:ETN) and Shaanxi Fast Gear (SFGW), today announced they have signed a joint venture agreement to manufacture manual transmissions for light-duty commercial vehicles. The formation of the joint venture is subject to regulatory approvals and customary closing conditions. The planned joint venture will be based in the High Tech Zone of Baoji City, Shaanxi Province, China, and will develop, manufacture, sell, and service manual transmissions for the large and fast growing light-duty truck market in China. In addition, the joint venture will sell its products throughout the rest of Asia-Pacific, Eastern Europe, and Africa. “We are pleased to announce our new joint venture with SFGW,” said João Faria, president, Eaton Vehicle Group. “Eaton’s efficient transmission solutions, combined with SFGW’s infrastructure and current light-duty
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