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Blog Exposure - Eaton Corp. Partners with Shaanxi Fast Gear to Manufacture Manual Transmissions for Light-Duty Commercial Vehicles in China

Stock Monitor: Broadwind Energy Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 14, 2018 / If you want access to our free research report on Eaton Corp. PLC (NYSE: ETN), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ETN as the Company's latest news hit the wire. On May 10, 2018, the Company disclosed that it has signed an agreement with Shaanxi Fast Gear ("Shaanxi") to form a Joint Venture (JV) company. The JV company will manufacture manual transmissions for light-duty commercial vehicles in China. The financial details and other terms of the agreement were not disclosed by both companies. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Broadwind Energy, Inc. (NASDAQ: BWEN), which also belongs to the Industrial Goods sector as the Company Eaton. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Eaton most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Commenting on forming the partnership with Shaanxi, João Faria, President - Eaton Vehicle Group, said:

"We are pleased to announce our new JV with SFGW. Eaton's efficient transmission solutions, combined with SFGW's infrastructure and current light-duty transmission portfolio, will strengthen our collective goal to help light-duty commercial vehicle OEMs meet increasing regulations for improved fuel economy and performance."

Vision and Scope of the JV

The proposed Eaton/Shaanxi JV will be located in the High Tech Zone of Baoji City, Shaanxi Province, China. The JV company will develop, manufacture, sell, and service manual transmissions for the large and light-duty truck aimed at the Chinese market. The JV company also plans to sell its products across rest of Asia/Pacific, Eastern Europe, and Africa.

Shaanxi is expected to have majority stake in the JV company with 51% interest while Eaton will own the remaining 49%. The formation of the proposed JV company is subject to receipt of requisite regulatory approvals and fulfilment of other closing conditions.

The current partnership extends and strengthens the relationship between Eaton and Shaanxi. Both companies already have a JV company - Fast Eaton Clutch – which is based in Xi'an, China. Fast Eaton Clutch was formed in 2014 and develops, manufactures, and services clutches and associated clutch components in China. The sales from Fast Eaton Clutch have witnessed marked increase since the time of its inception.

Eaton in China

China is an important market for Eaton and the Company has been doing business in that country through JVs since 1993. Eaton has its Asia/Pacific regional headquarters in Changning District, Shanghai. The Company manufactures a wide range of products in China which include uninterruptible power systems, medium voltage switch panels and switchgears, vacuum circuit breakers and fittings, electrical automation, automotive air conditioning and power steering, hose and tube assemblies, clutches and brakes, engine valves, hydraulic lifters, differentials, hydraulic hose fittings and adapters, directional control valves, vane pumps, power systems, hoses and fittings. In FY10, the Company crossed the $1 billion mark for revenues in China.

About Shaanxi Fast Gear

Shaanxi Fast Gear is part of Shaanxi Fast Auto Drive Group Company. Shaanxi Fast Group was founded in 1968 in China and owns and jointly owns over 10 subsidiaries, a factory in Thailand of sole proprietorship and a distribution company in the USA. The Group specializes in manufacture and export of heavy-duty auto transmissions, auto gears, forgings, and castings. It is the only enterprise with over ten billion annual production and sales in gear industry in China.

About Eaton Corporation PLC

Dublin, Ireland-based Eaton is a power management company that provides energy-efficient solutions to its customers to effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. The Company has been doing business for over 100 years and has presence in over 175 countries. It is supported by a team of 96,000 employees. The Company recorded sales was $20.4 billion for FY17.

Stock Performance Snapshot

May 11, 2018 - At Friday's closing bell, Eaton's stock slightly climbed 0.03%, ending the trading session at $76.47.

Volume traded for the day: 2.18 million shares.

After last Friday's close, Eaton's market cap was at $33.56 billion.

Price to Earnings (P/E) ratio was at 11.42.

The stock has a dividend yield of 3.45%.

The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry. This sector was up 0.1% at the end of the session.

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