Eaton In China Commercial Vehicle Clutch Venture
Eaton and China’s Shaanxi Fast Gear Co. Ltd. (SFGW) announced they have signed a joint venture agreement to support the growing commercial vehicle clutch market in China. The formation of the joint venture is subject to regulatory approvals and customary closing conditions. Financial terms were not disclosed.
The planned joint venture will focus on developing, manufacturing, assembling, testing, selling and servicing clutches and associated clutch components for the commercial vehicle market in China. SFGW, headquartered in Xi’an, China, will own a 51% interest in the new joint venture with Eaton holding the remaining 49%.
“We are pleased to announce our joint venture with SFGW,” said Ken Davis, Eaton president, Vehicle Group. “The comprehensive product development and manufacturing capabilities in our joint venture will enhance Eaton’s full-service capability in China’s growing commercial vehicle market.”
SFGW is among the largest specialized production and export enterprises in China, mainly for commercial vehicle transmissions, auto gears, forgings and castings. It has more than 10 wholly owned and share stock companies, a company owned factory in Thailand and distribution office in the United States.Edit Module