Caterpillar Acquires Full Ownership in Intelligent Switchgear JV from Eaton
Caterpillar Inc. announced the company has purchased the remaining interest in Intelligent Switchgear Organization (ISO), Caterpillar's joint venture with Eaton Corporation that develops and produces low- and medium- voltage switchgear, generator set controls, and automatic transfer switches.
Caterpillar purchased Eaton's interest in ISO and dissolved the joint venture effective on December 1. Financial terms of the purchase were not disclosed. Current ISO employees will join Caterpillar, and engineering and manufacturing will continue at the ISO facility in Alpharetta, Ga. Eaton will continue as a supplier of electrical components.
"This acquisition differentiates Caterpillar in the market by enabling us to provide a wide range of complete power solutions from a single supplier," said Tom Frake, vice president of Caterpillar's Global Power Solutions Division.
"Through this purchase, we can streamline our supply chain and other key processes so Caterpillar and the Cat® dealer network are able to deliver even more value for the customer by providing complete solutions," Frake observed.
ISO manufactures complex electrical interfaces and controls associated with integrated power solutions. Distributed exclusively through the Cat dealer network, products developed and produced by ISO include paralleling switchgear and automatic transfer switches used for emergency or prime power applications for a wide variety of facilities, ranging from commercial and industrial facilities to utility and power generation installations.