Eaton Corp. announced it has agreed to acquire Polimer Kauçuk Sanayi ve Pazarlama A.Ş., a Turkish manufacturer of hydraulic and industrial hose. The company’s headquarters are located near Istanbul, and many of its products are sold globally under the SEL Hose brand name.
Founded in 1957, Polimer Kauçuk Sanayi ve Pazarlama A.Ş. employs more than 2,100 people and had 2011 sales of about $335 million. The company’s primary markets include construction, mining, agriculture, oil and gas, manufacturing, food and beverage and chemicals. Terms were not disclosed.
“The planned acquisition of Polimer Kauçuk will significantly broaden Eaton’s portfolio of hose products,” said Alexander M. Cutler, Eaton chairman and chief executive officer. “This acquisition will also further expand Eaton’s global hose manufacturing footprint and allow us to better serve emerging markets with a range of hose solutions. We anticipate the transaction will close early in the second quarter.”