Eaton Corporation


Eaton Corporation
Eaton Corporation
Type Public(NYSEETN)
S&P 500 Component
Industry Components
Founded 1911
Headquarters Cleveland, Ohio
Key people Alexander M. Cutler, Chairman, President & CEO
Revenue increase$13.7 billion USD (2010)
Employees 73,000
Divisions Electrical Sector
Industrial Sector
- Aerospace
- Hydraulics
- Vehicle
Website http://eaton.com

Eaton Corporation (NYSEETN) is a global diversified power management company with 2010 sales of $13.7 billion. The company is a leading provider of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has approximately 73,000 employees and sells products to customers in more than 150 countries.

Contents

History

In 1911 Joseph O. Eaton, brother-in-law Henning O. Taube and Viggo V. Torbensen incorporated the Torbensen Gear and Axle Co. in Bloomfield, New Jersey. With financial backing from Torbensen's mother, the company was set to manufacture Torbensen's patented internal-gear truck axle. In 1914, the company moved to Cleveland, Ohio, to be closer to its core business, the automotive industry.

In 1916 The Torbensen Axle Company was incorporated in Ohio, succeeding the New Jersey corporation. A year later, Republic Truck Company, Torbensen's largest customer, bought out the company. But, Eaton and Torbensen were not content and bowed out of Republic to form the Eaton Axle Company in 1919. A year later, in 1920, Eaton Axle Company merged with Standard Parts. Standard Parts went in receivership later the same year and was later liquidated. In 1923, Eaton bought the Torbensen Axle Co. back from Republic and changed the name to the Eaton Axle and Spring Company.

Eaton officers believed the quickest way to grow the business was through acquisitions and began buying companies in the automotive industry, By 1932, the diversified company changed its name to Eaton Manufacturing Company. In 1937, Eaton went international with a manufacturing plant in Canada. The company name changed once again in 1966 to Eaton Yale & Towne, Inc. after the acquisition of Yale & Towne Manufacturing Co. in 1963. Stockholders approved the change to the company's current name in 1971. Eaton Corp. continues its founder's "philosophy" of growth through acquisition along with divesting businesses that no longer fit the corporate vision. In 1978, Eaton Corporation acquired Samuel Moore & Company, Kenway Systems and Cutler-Hammer

Eaton Corporation is based in the Eaton Center, its 28-story office tower in downtown Cleveland. From 1920s-1964 Eaton was based on East 140th Street. In 1964, Eaton moved its headquarters into the new Erieview Tower from 1964–1984. In 1983, Eaton Corporation moved into its new tower. Construction of the new corporate headquarters -- a 580,000 square foot facility in Beachwood, Ohio -- is currently underway, with projected completion scheduled for late 2012.

Current work

Eaton Corporation is divided into five businesses: Aerospace, Automotive, Electrical, Hydraulics and Truck. Eaton spun off its semiconductor manufacturing equipment business as Axcelis Technologies in 2000.

These divisions are spread over the world. In 2003 Eaton's Electrical Distribution and Control business(formerly known as Cutler-Hammer) acquired the European Delta PLC's electrical division[1] (which held the following brands: HOLEC,[2] M E M,[3] TABULA,[4] BILL,[5] ELEK[6] and Westinghouse*[disambiguation needed ]) to acquire manufacturing to IEC standards, one of the steps to become a global company and develop a worldwide standard.

Not too long after that acquisition, Eaton agreed to a joint venture with Caterpillar Inc. and purchased more than half of I & S operations (now known as Intelligent Switchgear Organization, LLC.). This was followed several years later by the acquisition of Powerware. The Powerware brand is known for the design and production of medium to large Uninterruptible Power System (UPS) devices. After several years of co-branding UPS products "Eaton | Powerware" the company is switching to the single brand Eaton for all UPS products including; BladeUPS, 9355, 9390, 9395, and 9E.

In 2007 Eaton entered the data center power distribution market, releasing a line of power distribution under their Powerware brand called ePDU. They acquired Aphel Technologies Ltd., a Coventry, UK-based manufacturer of power distribution product for data centers. Shortly after, Pulizzi Engineering Inc., Santa Ana, CA-based manufacturer of mission critical power distribution was acquired. In late 2007 they acquired the MGE Office Protection Systems division from Schneider Electric, as a result of that firm's acquisition of APC. A Taiwanese manufacturer, Phoenixtec, was also acquired giving the company the highest share in the Chinese single-phase UPS market.

The Westinghouse Distribution and Controls Business Unit was acquired by Eaton Electrical in 1994. The acquisition included all of the Westinghouse electrical distribution and control product business and also included stipulations that the Westinghouse name cannot be used by anyone else on these types of products for years. Today, Eaton Electrical manufactures electrical distribution and control products branded "Eaton" or "Cutler-Hammer" which can replace Westinghouse products in commercial and industrial applications.

Eaton's hybrid electric powertrain combines a diesel engine and electric motor to drive the vehicle.[7][8]

Environmental record

Eaton was selected in 2008 as a recipient of the CALSTART Blue Sky Award with recognition for their environmentally "green" transportation investments, products and actions. The award was directed towards their efforts to pioneer heavy duty hybrid-drive technology for trucks. The annual awards recognize outstanding marketplace contributions to clean air, energy efficiency and to the clean transportation industry overall by companies, organizations and individuals.[9]

Operations of Eaton involve the use and disposal of certain substances regulated under environmental protection laws. Eaton continues to modify certain processes on an ongoing, regular basis to reduce the impact on the environment, including the reduction or elimination of certain chemicals used in, and wastes generated from, operations.[10] Eaton has set standards for themselves in the category of environmental protection. They have vowed to reduce their own greenhouse gas emissions by 18 percent by 2012.

In 2006, Eaton joined the Green Suppliers Network, a public-private partnership with the EPA and U.S. Department of Commerce, through which small and medium-sized suppliers are helped to develop "lean and clean" manufacturing processes.[11]

Brands

  • Aeroquip
  • Airflex
  • Aphel Technologies
  • Argo-Tech
  • Arrow Hose & Tubing
  • Babco
  • Bill
  • Boston
  • Centurion
  • Char-Lynn
  • Senyuan
  • Cutler-Hammer
  • Durant
  • Eaton
  • Elek
  • FR-HiTEMP
  • Fuller
  • Golf Pride
  • Holec
  • Hydro-Line
  • Marina Power & Lighting
  • MEM
  • MGE Office Protection Systems
  • de:Moeller GmbH
  • Phoenixtec
  • Pigozzi
  • Powerware
  • Pringle
  • Pulizzi
  • Roadranger
  • Ronningen-Petter
  • Senyuan
  • Stanley
  • Synflex
  • Tractech
  • Vickers
  • Walterscheid
  • Weatherhead

Eaton's Aerospace Group

Eaton's Aerospace Group is divided into four divisions that provide fuel and hydraulic systems, high pressure, high temperature ducting, fuel and hydraulic tubing conveyance, and cockpit panel and controls to almost every major aerospace platform. The latest platforms include the Boeing 787, Airbus A380, Comac C919, Learjet LJ85, Gulfstream G650 and G450, Lockheed Martin F-35 Joint Strike Fighter, and Sikorsky CH-53K. The aerospace portfolio also includes many legacy aircraft such as the Boeing 737, 747, 757, 767, and 777, Airbus A319, A320, A330 and A340, Lockheed Martin F22 Raptor, and countless more.

As with Eaton's philosophy, growth through acquisition is also true in the Aerospace business with the acquisitions of Stanley Aerospace, Aeroquip, PerkinElmer Aerospace Businesses, Argo-Tech, and FR-HiTEMP. These acquisitions have provided Eaton with a diverse aerospace portfolio that allows them to provide complete fuel and hydraulic systems.

Hydraulic Systems Division

Eaton provides the Hydraulic Power Generation System and Hydraulic Utility Actuation for the F-35 Lightning II The HUA provides the primary actuation that converts the STOVL variant from conventional flight to hover and vertical landing. Other HSD progams include Embraer VLJ, Bombardier Learjet-85, Hawker 4000, and CH 53-K.

Eaton's Filtration Business

Eaton’s Filtration business is a global leader in manufacturing filtration products that include automatic self-cleaning and fabricated pipeline strainers, mechanically cleaned filters and strainers, bag and cartridge filtration systems, and gas liquid separators for industrial customers worldwide. We supply high-quality systems, parts, and services to a variety of key markets and are expanding our global footprint with initiatives in the Americas, EMEA, and Asia Pacific. Designed for efficiency in demanding markets, applications, and environments, Eaton’s innovative pipeline basket strainer, mechanically cleaned filter, tubular backwashing filter, bag filter and bag housing, cartridge filter and cartridge housing, and gas liquid separator solutions help optimize filtration performance and quality, as well as plant productivity.

See Also

Notes

References

The History of Eaton Corporation 1911–1985
Securities and Exchange Commission

External links



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