Eaton Denies It Plans to Sell Auto Parts Unit

Eaton Corp. says it is not in discussions about divesting its car parts operation nor has it previously held such talks contrary to a Bloomberg News report earlier this week.

Alexander Cutler, Eaton chairman and CEO, tells an industrial conference in Chicago that the automotive business is an important and "very strong profit-producing" part of the company.

Cutler says the speculation has arisen since the Dublin, Ireland-based supplier acquired electric-distribution equipment maker Cooper Industries Plc last November for $11.8 billion to expand its power management business.