Eaton Completes Acquisition of Cobham Mission Systems
Eaton (NYSE:ETN) has successfully completed the acquisition of Cobham Mission Systems, a prominent manufacturer specializing in air-to-air refueling systems and environmental systems for defense markets. With around 2,000 employees and manufacturing sites in both the U.S. and U.K., this strategic acquisition enhances Eaton's aerospace portfolio, aiming for increased growth and profitability. Eaton aims to deliver sustainable power management solutions globally, maintaining a strong financial performance with 2020 revenues of $17.9 billion.
- Strategic acquisition of Cobham Mission Systems enhances Eaton's aerospace business.
- Expected growth opportunities leading to higher revenue and stronger margins.
- Acquisition aligns with previous purchase of Souriau-Sunbank to reposition portfolio.
- Integration challenges may arise from combining operations with Cobham.
- Potential risks due to economic conditions and competitive pressures.
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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210601005608/en/
FAQ
What is the significance of Eaton's acquisition of Cobham Mission Systems?
When was the acquisition of Cobham Mission Systems completed?
How many employees does Cobham Mission Systems have?
What were Eaton's revenues in 2020?
What are the potential risks associated with the acquisition of Cobham?
