March 12, 2019
On March 1 Eaton announced intentions to spin off its lighting business, creating an independent, publicly traded company. The transition is expected to be completed by the end of 2019.
Effective April 1, Curt Hutchins, Group President of Eaton's US$2.7 billion Hydraulics Group, will lead the spin-off. He will work with Eaton’s Lighting leadership team and corporate team to set up the new company. Curt has held a number of leadership roles in a variety of diverse businesses and industries during his career. Prior to leading Eaton's $2.7B Hydraulics Group, he was president of Eaton's Asia Pacific region.
Included in the spin-off are Eaton’s lighting business, its global airport lighting business, and Mains lighting and intrusion systems businesses that operate primarily in Europe and the Middle East. The Crouse-Hinds industrial lighting business and Life Safety Division’s emergency lighting product lines in Europe, the Middle East and Africa will remain with Eaton.
Eaton says the spin-off will better position the lighting business to respond to evolving industry and customer needs, enable lighting to compete more effectively across its diverse end-markets, and enhance Eaton’s ability to focus investments in its core businesses.
President Kraig Kasler told Edison Report that “this will be a US$1.7 billion company and we will have much more flexibility once we are independent.”
Eaton's Lighting Division delivers indoor and outdoor lighting and controls solutions serving customers in the commercial, industrial, retail, institutional, residential, utility and other markets.
How to select the Best Protection against Surge
Every household requires Surge Protection Devices to protect plug strips and all-important household appliances, from higher-level surge.
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Rittal is putting on a free webinar for their Canadian customers discussing how IoT enabled climate control solutions can help reduce energy costs by 75%.
Time & Date: Tuesday, May 12 at 2PM EDT
Go HERE to register
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