Eaton to Spin Off Its Lighting Business
Power management company Eaton announced its plan to spin off its lighting business to create an independent, publicly traded company by the end of 2019. The lighting business of Eaton covers a wide range of products and systems to maximize energy efficiency.
Power management company Eaton announced its plan to spin off its lighting business to create an independent, publicly traded company by the end of 2019.
Eaton is a power management company with 2018 sales of $21.6 billion. Its energy-efficient solutions help customers effectively manage electrical, hydraulic and mechanical power more reliably, safely and sustainably. The company is dedicated to improving the quality of life and the environment through the use of power management technologies and services. Eaton employs 99,000 people worldwide and sells products to customers in more than 175 countries.
Eaton’s lighting business is one of the world’s leading providers of LED lighting and control solutions. Its broad range of innovative products and systems are designed to maximize performance and energy efficiency.
The lighting business of Eaton covers a wide range of products and systems which records sales of US$ 1.7 billion in 2018. Eaton’s lighting business provides services to customers in commercial, industrial, residential and municipal market. The spin-off will include Eaton’s global airport lighting business and mains lighting.
According to Eaton, Goldman Sachs will be Eaton’s financial advisor on the transaction and the potential transaction had been discussed at the company’s annual investor conference.