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Eaton and Shaanxi Fast Gear Form Joint Venture to Manufacture Light-Duty Manual Transmissions for Asia-Pacific, Eastern Europe and Africa

November 15, 2018

DUBLIN--(BUSINESS WIRE)--Nov 15, 2018--Power management company Eaton (NYSE:ETN) and Shaanxi Fast Gear (SFGW) have formed a joint venture to develop, manufacture, sell and service light-duty manual transmissions in Asia-Pacific, Eastern Europe and Africa.

“We are pleased to commence our new joint venture with SFGW, which will leverage the expertise of both partners to manufacture industry leading light-duty transmissions,” said João Faria, president, Eaton’s Vehicle Group. “Our partnership with SFGW brings our transmission designs to the large and fast-growing light-duty truck market in China and other rapidly growing markets.”

Faria added, “Eaton and SFGW formed a joint venture in 2014 for the sale of clutch products in China, which has achieved considerable growth over the last few years. Eaton expects to build on this success with the new joint venture in the light-duty manual transmission space.”

The joint venture will be based in the High Tech Zone of Baoji City, Shaanxi Province, China.

SFGW is the largest transmission manufacturer in China. It is headquartered in Xi’an, China, and owns a 51 percent interest in the new joint venture. Eaton, a leader in the North American heavy-duty commercial vehicle transmission market and the light- and medium-duty segments in Brazil and other South American markets, owns a 49 percent interest.

Eaton is a power management company with 2017 sales of $20.4 billion. We provide energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton is dedicated to improving the quality of life and the environment through the use of power management technologies and services. Eaton has approximately 98,000 employees and sells products to customers in more than 175 countries. For more information, visit Eaton.com.

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CONTACT: Tom Nellenbach, +1 (216) 333-2876

Anna Zhuang, +86 15921599299

KEYWORD: UNITED STATES EUROPE ASIA PACIFIC NORTH AMERICA CHINA OHIO AFRICA IRELAND

INDUSTRY KEYWORD: TRANSPORT TRUCKING OTHER TRANSPORT MANUFACTURING AUTOMOTIVE MANUFACTURING ENGINEERING OTHER MANUFACTURING AUTOMOTIVE AFTERMARKET OFF-ROAD TRUCKS & SUVS RECREATIONAL VEHICLES OTHER AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: Eaton

Copyright Business Wire 2018.

PUB: 11/15/2018 06:30 AM/DISC: 11/15/2018 06:30 AM

http://www.businesswire.com/news/home/20181115005106/en

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