Dublin, Ireland-based power management company Eaton announced April 24 that it has completed its acquisition of a 49% stake in Jiangsu Ryan Electrical Co. Ltd., a manufacturer of power distribution and sub-transmission transformers in China. Financial details were not disclosed, but Eaton said Jiangsu Ryan reported revenues of approximately $100 million 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,” said Howard Liu, President, Asia-Pacific Region, Electrical Sector, Eaton. “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.”
Eaton said Ryan is focused on dry-type transformers, a growing market amid the rapidly expanding renewable energy base and increasing electricity consumption. Ryan’s products are widely used and recognized by customers in renewable energy, data center, utility and industrial markets, Eaton said.
Read more about the deal here.
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