Chennai: Danish company Danfoss' Indian subsidiary Danfoss Power Solutions grew bigger in India in terms of market play, head count and turnover with the completion of global acquisition of Eaton's hydraulics business for $3.3 billion cash by its parent.
With the acquisition, Eaton's hydraulics business globally and also in India got merged with Danfoss Power Solutions.
It is learnt by IANS that Danfoss Power Solutions business in India will be worth more than Rs 850 crore with this acquisition and its headcount would cross 1,000.
Overall, the Danfoss group's India headcount would cross 2,000 post this acquisition.
Globally Eaton logged hydraulics sales of $1.8 billion and has about 10,000 employees serving products for customers in markets such as agriculture, construction, and in industrial market segments.
The acquisition and merger makes Danfoss strong in the global and domestic hydraulics business and make it a global leader in mobile and industrial hydraulics.
The acquisition will provide Danfoss greater inroads into the US market while the Danish company is already a major player in the European markets.
Eaton India manufactures and markets a wide range of products for the power and motion control industry. In addition, it also imports and trades a variety of hydraulic and fluid conveyance products.
Eaton, which has its facility in Pune, has competitive offerings in practically all segments, ranging from mobile to industrial applications, positioned as a hydraulic systems solution provider with a full product range.
The Power Solutions division of Danfoss is a provider of mobile hydraulics for the construction, agriculture, and other off-highway vehicle markets.
The product portfolio includes electronic controls, pumps, steering, mobile electrification, pumps and valves, motors, sensors and transmitters and others.