CLEVELAND (March 5, 11:30 a.m. ET) — Industrial manufacturer Eaton Corp. is set to acquire Polimer Kauçuk Sanayi ve Pazarlama A.S., a Turkish manufacturer of hydraulic hoses sold under the SEL Hose brand name.
Terms were not disclosed. The deal is subject to customary closing conditions.
“The planned acquisition of Polimer Kauçuk will significantly broaden Eaton's portfolio of hose products,” said Alexander Cutler, Eaton chairman and CEO, in a news release. “This acquisition will also further expand Eaton's global hose manufacturing footprint and allow us to better serve emerging markets with a range of hose solutions.”
Eaton is based in Cleveland. Polimer Kauçuk Sanayi is headquartered near Istanbul. It employs 2,100 people and had 2011 sales of about $335 million.