Eaton announced has signed an agreement to acquire a 50% stake in Jiangsu YiNeng Electric’s busway business.

“We are pleased to form this strategic relationship with YiNeng,” said Eaton Asia-Pacific Region, Electrical Sector and Corporate China president, Howard Liu.

“YiNeng’s strong presence in China combined with Eaton’s broad product portfolio and access to Southeast Asia positions us well in the high-growth busway product category and strengthens our offerings to customers in the region.”

The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to close in the third quarter of 2021. After the transaction closes, the company will undertake business as Eaton Busway Jiangsu.

Jiangsu YiNeng Electric is a Chinese electrical equipment manufacturer. Founded in 2002 and headquartered in Jiangsu, China, the company serves the data centre, infrastructure, commercial building, telecommunications and industrial segments.

Eaton’s 2020 revenues were US$17.9bn.