Eaton, China's FAW sign $97 mln gear box deal

Newswire

SHANGHAI, April 1 (Reuters) - U.S. industrial firm Eaton Corp and China's First Automotive Works have signed a deal to invest 800 million yuan ($96.7 million) in a joint venture to make gear boxes in China, an FAW executive said on Thursday. Eaton, which makes hydraulic systems, vehicle parts and electrical equipment, will base its 50-50 venture at an existing FAW plant in the northeastern Chinese city of Changchun. The deal requires final approval from the Chinese government. "It will ...

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