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Eaton sells off controls unit
CLEVELAND - Eaton Corp., as part of its shedding of unneeded business units, has sold a machine tool controls business to Siemens AG. Price and terms were not disclosed. Eaton, of Cleveland, sold the part of its Vickers Electronics Systems manufacturing that makes electronic controls for machines used in manufacturing. That business had 1998 sales of $109 million. Eaton acquired the business with its April acquisition of Aeroquip-Vickers Inc. Eaton said the controls division did not fit with its other operations.
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