Eaton Corp. Considers Selling Auto Parts Division for $1 Billion

Eaton Corp. is considering the sale of its auto-parts unit that may be valued at $1 billion, Bloomberg News reported Monday.

The proposed sale would not include the truck parts division and would allow the Cleveland-based company to focus on its growing power and lighting operation, Bloomberg reported.

Eaton’s auto unit generated 10% of its sales in 2012 and its truck-parts business accounted for 14%, Bloomberg reported.

The truck and auto component maker expects the auto-parts unit to attract bidders as car sales are on the rise and there is continued growth potential, according to Bloomberg.