Eaton Corp., a Cleveland-based industrial conglomerate, has purchased the Synflex plastic hose and tubing business from Saint-Gobain Performance Plastics Corp. for an undisclosed price.
The deal includes two Synflex production sites in Aurora, Ohio - where Saint-Gobain Performance Plastics is based - and separate plants in Mantua, Ohio, and Gembloux, Belgium. The four sites employ a total of 450.
Synflex had 2005 sales of about $120 million into several industries, including transportation, beverage dispensing, fluid power and specialty applications. Synflex hose and tubing are made from several resins including thermoplastic vulcanizates.
``Our goal is to be the global leader in hydraulics,'' said Eaton spokesperson Kelly Jasko. ``Synflex brings a strong brand name and a complementary product line.''
Eaton already operates more than 50 hydraulic and hose plants worldwide, with half of that total in North America. Those plants use both plastic and rubber materials. The Synflex business now will be part of Eaton's fluid power unit.
Eaton made its big move into hose and tubing in 1999 when it acquired Aeroquip Corp. In that same year, Saint-Gobain bought the Synflex business from Furon Co.
Saint-Gobain Performance Plastics will continue to be based in Aurora, although the unit no longer will have production there, according to spokeswoman Susan Lindsey. Saint-Gobain also makes plastic parts for the aircraft industry at a plant in nearby Ravenna, Ohio.
The purchase needs to pass regulatory approvals, but is expected to close by the end of March.
Eaton posted sales of about $11.1 billion in 2005, an increase of 13 percent from the previous year. The firm employs 55,000 globally.
Saint-Gobain Performance Plastics is a unit of Paris-based Cie. de Saint-Gobain.