Turck Acquires MTX Interest from Eaton

Turck has acquired Eaton Automation Holding's 50-percent interest in the joint venture MT ElektroniX GmbH (MTX) in Detmold. The automation specialist therefore now owns 100 percent of the shares. In 2002, Turck acquired 50 percent of the shares in Moeller Electronix GmbH from Eaton - at the time still under the name Moeller GmbH. The two companies jointly founded MTX to develop automation components, in particular I/O modules and fieldbus gateways. In the course of their strategic development, both partners have now agreed to transfer responsibility for MTX activities to Turck. The partners have set out their further cooperation in a service contract. This ensures that Eaton products created in the context of the joint venture will continue to be developed by MTX for Eaton in future.
"Numerous innovative solutions such as our BL67 and BL20 I/O systems have been developed in Detmold since the foundation of the joint venture almost ten years ago," says Turck and MTX Managing Director Guido Frohnhaus. "Both partners - just like our customers - have obtained the utmost benefit from this cooperation for many years. The separate strategies of the two companies are now different, with the result that MTX can work more efficiently with a sole partner. For Turck, this means that we will now be able to steer development work more efficiently in order to translate the increasing demands of our customers into innovative solutions in the shortest possible time."