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Eaton to acquire hydraulic and industrial hose manufacturer Turkish company

March 14/2012

(plasteurope) -- Diversified industrial manufacturer Eaton (Cleveland, Ohio / USA) has agreed to acquire hydraulic and industrial hose manufacturer Polimer Kaucuk Sanayi ve Pazarlama (Istanbul / Turkey). The companys headquarters are located near Istanbul and many of its products are sold globally under the SEL Hose brand name. Primary markets include construction, mining, agriculture, oil and gas, manufacturing, food and beverage, as well as chemicals. Terms of the deal were not disclosed.

Polimer Kaucuk manufactures a wide range of hoses in two plants totalling 125,000m2. PVC and thermoplastic copolymer hoses are manufactured in a 55,000m2 plant in Avcilar, Istanbul and rubber hoses in Cerkezkoy, 100km west of Turkey's largest city. The business employs over 2,100 people and had sales of around USD 335m in 2011.

The planned acquisition of Polimer Kaucuk will significantly broaden Eatons portfolio of hose products. We anticipate the transaction will close early in the second quarter, said Alexander Cutler, Eaton chairman and chief executive officer. Polimer Kaucuk said its SEL brand is regarded as the leading name for hoses in Turkey.

Author:Anna Larionova
Category:General News
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