- Eaton Corp (NYSE:ETN) has completed the acquisition of a 49% interest in Jiangsu Ryan Electrical Co. Ltd. in China.
- Jiangsu Ryan Electrical manufactures power distribution and sub-transmission transformers in China, focusing on dry-type transformers that are a booming market amid an increasing renewable energy base and rising electricity consumption globally.
- Jiangsu Ryan reported revenue of around $100 million in revenues in 2022.
- “The powerful combination of Ryan’s high-quality products and Eaton’s global distribution will enable us to better serve customers in Asia Pacific and around the world. Together, we’ll be well-positioned to provide the solutions for the transition to more renewable energy and electrical content in a variety of applications.” said Howard Liu, president, Asia-Pacific Region, Electrical Sector.
- Price Action: ETN shares are trading lower by 3.00% at $158.00 premarket on last checked Monday.
Credit Suisse Initiates Coverage On Aon with Outperform Rating, Announces Price Target of $363
Credit Suisse analyst Andrew Kligerman initiates coverage on Aon (NYSE:AON) with a Outperform rating and announces Price Target of $363.
