Power management company Eaton (NYSE:ETN) said it has completed the acquisition of a 50% stake in the circuit breaker business of Jiangsu Huineng Electric Co. in China.

Terms weren't disclosed. The Jiangsu Huineng business had revenues of $35 million in 2021.

"This strategic relationship marks an important milestone in Eaton's growth strategy," said Howard Liu, president of the Asia-Pacific Region, Electrical Sector, for Eaton, in a statement. "The combination of application-tailored products with our global distribution channels positions us to capitalize on opportunities in high-growth market segments such as renewable energy, grid modernization, commercial buildings and industrial."

Jiangsu Huineng was founded in 2007 and is headquartered in Zhenjiang, China. Its products are widely used and recognized across key markets including wind and solar and power plants.

Eaton, founded in 1911, reported revenues of $19.6 billion in 2021. It serves customers in more than 170 countries.

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