Eaton Closes $270 Mln Sale Of Non-Core Business To Safran

(RTTNews) - Ireland-based power management company Eaton Corp plc (ETN) said Friday it has completed the sale of its Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions business to Safran for $270 million. The deal was announced in January.

The Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions business employs about 350 people at manufacturing facilities in Costa Mesa, California and Sarasota, Florida.

The divested business produces illuminated switches, cockpit panel assemblies, pilot controls, and passenger safety unit latches, as well as circuit protection, power distribution and switch components and sub-systems for aerospace and industrial applications. Sales from this business were about $102 million in 2013. Dublin, Ireland-based