Published: Wednesday, February 5, 2014 at 2:37 p.m. Last Modified: Wednesday, February 5, 2014 at 2:37 p.m. <\/p>\n
MANATEE COUNTY - Eaton Corp. is selling its aerospace power distribution management business, including a south Manatee County plant, to a French company for $270 million. <\/p>\n
Safran S.A. and Eaton expect to complete the transaction sometime during the first half of this year, said Eaton spokesman Kelly M. Jasko. <\/p>\n
It is unclear what the transaction means long-term for jobs at the Whitfield Avenue plant, which in the 1990s employed 600 but now includes 180 workers. <\/p>\n
We are committed to communicating with employees and customers in a timely manner over the next few months as decisions are made that affect them, Jasko said. In the meantime, however, no immediate changes are taking place. <\/p>\n
The sale also includes Eatons aerospace electronics plant in Costa Mesa, Calif., and switch manufacturing product lines in Reynosa and Tijuana, Mexico. <\/p>\n
The business being sold the full name of which is Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions employs roughly 350 at the two U.S. plants. <\/p>\n
The business produces illuminated switches, cockpit panel assemblies, pilot controls and passenger safety unit latches, as well as circuit protection, power distribution and switch components for aerospace and industrial applications. <\/p>\n
Sales were approximately $102 million in 2013. <\/p>\n
In a statement, Paris-based Safran said that the acquisition represents a continuation of the companys strategy to help build more electric aircraft. <\/p>\n
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Aerospace business, including plant in Manatee, sold to French firm<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Published: Wednesday, February 5, 2014 at 2:37 p.m. Last Modified: Wednesday, February 5, 2014 at 2:37 p.m Continue reading