DUBLIN--(BUSINESS WIRE)--Apr 1, 2025--
Intelligent power management company Eaton (NYSE:ETN) today announced it has completed the acquisition of Fibrebond, a designer and builder of pre-integrated modular power enclosures. Under the terms of the agreement, Eaton paid $1.4 billion for Fibrebond, which is expected to generate $110 million of estimated 2025 adjusted EBITDA. Eaton expects the deal will be neutral from an earnings per share standpoint in 2025.
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“Acquiring Fibrebond’s innovative and customer-focused business is a game-changing move that positions Eaton as a one-stop shop to rapidly deploy power infrastructure where it’s needed,” said Mike Yelton, president, Americas Region, Electrical Sector. “Their engineered-to-order power enclosures and service capabilities enhance our offerings, allowing us to move faster for our data center, industrial, utility and other customers. We couldn’t be more excited to add this critical capability for our customers in these growth markets.”
Fibrebond, based in Minden, Louisiana, builds innovative and reliable structures that protect people and mission-critical equipment for data center, fiber, industrial, and utility markets. The company estimates revenues of approximately $378 million for the 12 months ending February 28, 2025.
Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power — today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re helping to solve the world’s most urgent power management challenges and building a more sustainable society for people today and generations to come.
Founded in 1911, Eaton has continuously evolved to meet the changing and expanding needs of our stakeholders. With revenues of nearly $25 billion in 2024, the company serves customers in more than 160 countries. For more information, visit www.eaton.com. Follow us on LinkedIn.
This press release contains forward-looking statements concerning, among other matters, the estimated financial performance of Fibrebond for 2025 and the transaction’s impact on Eaton’s expected 2025 earnings per share. These statements should be used with caution and are subject to various risks and uncertainties, many of which are outside Eaton’s control. The following factors, among others, could cause actual results to differ materially from those in the forward-looking statements: potential global pandemics; unanticipated declines in the markets for Eaton’s or Fibrebond’s business segments; unanticipated downturns in either Eaton’s or Fibrebond’s customer relationships or customer purchases; competitive pressures on sales and pricing; supply chain disruptions; unanticipated, non-recoupable increases in the cost of material, labor and other production costs; competitor, customer, or supplier introduction of disruptive or competing technologies; unexpected technical or marketing difficulties; unexpected or adverse determinations with respect to claims, charges, audits, investigations, court or administrative proceedings, litigation, arbitrations, judgments, or dispute resolutions; strikes or other labor unrest, or at our customers or suppliers; attrition of key personnel; challenges to optimizing manufacturing footprint; challenges to the performance and integration of any recent acquisitions, including Fibrebond; unanticipated difficulties closing any acquisitions; unexpected difficulties completing any divestitures; the effect, interpretation, or application of new or existing laws, regulations, legal proceedings, or accounting pronouncements impacting Eaton’s business segments; tariffs; interest rate changes; stock market and currency fluctuations; geo-political tensions, war, civil or political unrest or terrorism; and unanticipated deterioration of economic and financial conditions in the United States and globally. We do not assume any obligation to update these forward-looking statements.
Fibrebond’s campus including new 300,000 square foot electrical integration facility, customer equipment warehouse and main manufacturing plant.
Fibrebond’s single electrical module unit
NUUK, Greenland (AP) — Troops from several European countries continued to arrive in Greenland on Thursday in a show of support for Denmark as talks between representatives of Denmark, Greenland and the U.S. highlighted “fundamental disagreement” over the future of the Arctic island.
Denmark announced it would increase its military presence in Greenland on Wednesday as foreign ministers from Denmark and Greenland were preparing to meet with White House representatives in Washington. Several European partners — including France, Germany, the U.K., Norway, Sweden and the Netherlands — started sending symbolic numbers of troops already on Wednesday or promised to do so in the following days.
The troop movements were intended to portray unity among Europeans and send a signal to President Donald Trump that an American takeover of Greenland is not necessary as NATO together can safeguard the security of the Arctic region amid rising Russian and Chinese interest.
“The first French military elements are already en route” and “others will follow,” French President Emmanuel Macron announced Wednesday, as French authorities said about 15 soldiers from the mountain infantry unit were already in Nuuk for a military exercise.
Germany will deploy a reconnaissance team of 13 personnel to Greenland on Thursday, the Defense Ministry said.
On Thursday, Danish Defense Minister Troels Lund Poulsen said the intention was “to establish a more permanent military presence with a larger Danish contribution,” according to Danish broadcaster DR. He said soldiers from several NATO countries will be in Greenland on a rotation system.
Danish Foreign Minister Lars Løkke Rasmussen, flanked by his Greenlandic counterpart Vivian Motzfeldt, said Wednesday that a “fundamental disagreement” over Greenland remains with Trump after they held highly anticipated talks at the White House with Vice President JD Vance and Secretary of State Marco Rubio.
Rasmussen added that it remains “clear that the president has this wish of conquering over Greenland” but that dialogue with the U.S. would continue at a high level over the following weeks.
Inhabitants of Greenland and Denmark reacted with anxiety but also some relief that negotiations with the U.S. would go on and European support was becoming visible.
Greenland's Prime Minister Jens-Frederik Nielsen welcomed the continuation of “dialogue and diplomacy.”
“Greenland is not for sale,” he said Thursday. “Greenland does not want to be owned by the United States. Greenland does not want to be governed from the United States. Greenland does not want to be part of the United States.”
In Greenland’s capital, Nuuk, local residents told The Associated Press they were glad the first meeting between Greenlandic, Danish and American officials had taken place but suggested it left more questions than answers.
Several people said they viewed Denmark’s decision to send more troops, and promises of support from other NATO allies, as protection against possible U.S. military action. But European military officials have not suggested the goal is to deter a U.S. move against the island.
Maya Martinsen, 21, said it was “comforting to know that the Nordic countries are sending reinforcements” because Greenland is a part of Denmark and NATO.
The dispute, she said, is not about “national security” but rather about “the oils and minerals that we have that are untouched.”
On Wednesday, Poulsen announced a stepped-up military presence in the Arctic “in close cooperation with our allies,” calling it a necessity in a security environment in which “no one can predict what will happen tomorrow.”
“This means that from today and in the coming time there will be an increased military presence in and around Greenland of aircraft, ships and soldiers, including from other NATO allies,” Poulsen said.
Asked whether the European troop movements were coordinated with NATO or what role the U.S.-led military alliance might play in the exercises, NATO referred all questions to the Danish authorities. However, NATO is currently studying ways to bolster security in the Arctic.
The Russian embassy in Brussels on Thursday lambasted what it called the West's “bellicose plans” in response to “phantom threats that they generate themselves”. It said the planned military actions were part of an “anti-Russian and anti-Chinese agenda” by NATO.
“Russia has consistently maintained that the Arctic should remain a territory of peace, dialogue and equal cooperation," the embassy said.
Rasmussen announced the creation of a working group with the Americans to discuss ways to work through differences.
“The group, in our view, should focus on how to address the American security concerns, while at the same time respecting the red lines of the Kingdom of Denmark,” he said.
Commenting on the outcome of the Washington meeting on Thursday, Poulsen said the working group was “better than no working group” and “a step in the right direction.” He added nevertheless that the dialogue with the U.S. did not mean “the danger has passed.”
Speaking on Thursday, Danish Prime Minister Mette Frederiksen said the American ambition to take over Greenland remains intact despite the Washington meeting, but she welcomed the creation of the working group.
The most important thing for Greenlanders is that they were directly represented at the meeting in the White House and that “the diplomatic dialogue has begun now,” Juno Berthelsen, a lawmaker for the pro-independence Naleraq opposition party, told AP.
A relationship with the U.S. is beneficial for Greenlanders and Americans and is “vital to the security and stability of the Arctic and the Western Alliance,” Berthelsen said. He suggested the U.S. could be involved in the creation of a coastguard for Greenland, providing funding and creating jobs for local people who can help to patrol the Arctic.
Line McGee, 38, from Copenhagen, told AP that she was glad to see some diplomatic progress. “I don’t think the threat has gone away,” she said. “But I feel slightly better than I did yesterday.”
Trump, in his Oval Office meeting with reporters, said: “We’ll see how it all works out. I think something will work out.”
Niemann reported from Copenhagen, Denmark, and Ciobanu from Warsaw, Poland.
Denmark's Foreign Minister Lars Løkke Rasmussen and Greenland's Foreign Minister Vivian Motzfeldt speak at a news conference at the Embassy of Denmark, Wednesday, Jan. 14, 2026, in Washington. (AP Photo/John McDonnell)
People walk on a street in Nuuk, Greenland, Wednesday, Jan. 14, 2026. (AP Photo/Evgeniy Maloletka)
From center to right, Greenland Foreign Minister Vivian Motzfeldt, Denmark's Ambassador Jesper Møller Sørensen, rear, and Danish Foreign Minister Lars Løkke Rasmussen, right, arrive on Capitol Hill to meet with senators from the Arctic Caucus, in Washington, Wednesday, Jan. 14, 2026. (AP Photo/J. Scott Applewhite)
An Airbus A400M transport aircraft of the German Air Force taxis over the grounds at Wunstorf Air Base in the Hanover region, Germany, Thursday, Jan. 15, 2026 as troops from NATO countries, including France and Germany, are arriving in Greenland to boost security. (Moritz Frankenberg/dpa via AP)
Fishermen load fishing lines into a boat in the harbor of Nuuk, Greenland, Wednesday, Jan. 14, 2026. (AP Photo/Evgeniy Maloletka)
Greenland Foreign Minister Vivian Motzfeldt, left, and Danish Foreign Minister Lars Løkke Rasmussen, arrive on Capitol Hill to meet with members of the Senate Arctic Caucus, in Washington, Wednesday, Jan. 14, 2026. (AP Photo/J. Scott Applewhite)
