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OFFON

EATON CORPORATION PLC

(ETN)
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Eaton : Completes Acquisition of Cobham Mission Systems

06/01/2021 | 08:25am EDT

  • Move expands Eaton Aerospace’s fuel systems offerings
  • Eaton continues portfolio repositioning for higher growth, stronger margins and more consistent performance

Power management company Eaton (NYSE:ETN) today announced it has completed the acquisition of Cobham Mission Systems. Cobham is a leading manufacturer of air-to-air refueling systems, environmental systems, and actuation, primarily for defense markets. The business has a workforce of approximately 2,000 people and manufacturing facilities in the United States and United Kingdom.

“We’re excited to welcome the Cobham team to Eaton,” said Heath Monesmith, president and chief operating officer, Industrial Sector, Eaton. “This acquisition, along with our prior acquisition of Souriau-Sunbank, positions our Aerospace business well for the future. These are just two examples of ways we are repositioning Eaton’s portfolio for higher growth, stronger margins and more consistent performance.”

Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 94,000 employees. For more information, visit Eaton.com.

This news release contains forward-looking statements about anticipated growth in our Aerospace business as well as the impact Eaton’s portfolio will have on the company’s growth and financial performance as a whole. These statements should be used with caution and are subject to various risks and uncertainties, many of which are outside the company’s control. The following factors could cause actual results to differ materially from those in the forward-looking statements: the course of the COVID-19 pandemic and government actions related thereto; unanticipated changes in the markets for the company’s business segments; unanticipated downturns in business relationships with customers or their purchases from us; competitive pressures on sales and pricing; unanticipated changes in the cost of material and other production costs, or unexpected costs that cannot be recouped in product pricing; the introduction of competing technologies; unexpected technical or marketing difficulties; unexpected claims, charges, litigation or dispute resolutions; strikes or other labor unrest; natural disasters; the performance of recent acquisitions; unanticipated difficulties completing or integrating acquisitions; new laws and governmental regulations; interest rate changes; changes in tax laws or tax regulations; stock market and currency fluctuations; and unanticipated deterioration of economic and financial conditions in the United States and around the world. We do not assume any obligation to update these forward-looking statements.


© Business Wire 2021
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Financials (USD)
Sales 2021 20 196 M - -
Net income 2021 2 136 M - -
Net Debt 2021 9 335 M - -
P/E ratio 2021 29,8x
Yield 2021 1,93%
Capitalization 63 522 M 63 522 M -
EV / Sales 2021 3,61x
EV / Sales 2022 3,51x
Nbr of Employees 85 000
Free-Float 99,8%
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Number of Analysts 24
Last Close Price 159,29 $
Average target price 175,50 $
Spread / Average Target 10,2%
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Managers and Directors
Craig Arnold Chairman & Chief Executive Officer
Thomas Bernard Okray Chief Financial Officer & Executive Vice President
Raja Ramana Macha Chief Technology Officer & Executive VP
Katrina R. Redmond Chief Information Officer & Senior Vice President
Joe Rodgers Senior Vice President-Ethics & Compliance
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