DUBLIN, Ireland—Eaton Corp. has entered into an agreement to sell both its aerospace power distribution management solutions and its integrated cockpit solutions businesses to Safran S.A. for $270 million.
The transaction is expected to close in the first half of 2014 and is subject to approval by Eaton's board and regulatory bodies.
The business' sales were approximately $102 million in 2013.
"The sale of this business is consistent with Eaton's long-term strategy to grow the aerospace business by focusing on its core competencies of hydraulics, fuel, conveyance, motion control and engine solutions, areas where we are an industry leader," said Uday Yadav, president of Eaton's Aerospace Group.
The aerospace power distribution management solutions and its integrated cockpit solutions businesses employs around 250 at manufacturing facilities in Costa Mesa, Calif., and Sarasota, Fla. The business produces illuminated switches, cockpit panel assemblies, pilot controls, passenger safety unit latches, circuit protection, power distribution and switch components, and sub systems for aerospace and industrial applications.
Eaton is a power management company providing energy-efficient solutions to manage electrical, hydraulic and mechanical power effectively.