Eaton Corporation

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This article is about an industrial manufacturer. For other meanings see Eaton (disambiguation).

Eaton Corporation (NYSE: [ETN]) is a diversified industrial manufacturer with 2005 sales of $11.1 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 59,000 employees and sells products to customers in more than 125 countries.

Contents

1 History
2 Current Work
3 References
4 External links

History

In 1911 Joseph O. Eaton, Henning O. Taube and Viggo V. Torbensen incorporated the Torbensen Gear and Axle Co. in Bloomfield, New Jersey. With financial backing from Eaton, 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 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.

Current Work

Eaton currently is active in the automation industry as well as the aviation market. The Los Angeles division is mainly focused on manufacturing hydraulic pressure valves. Eaton supplies valves to all types of aircraft, ranging from military to commercial. Recently, Eaton qualified to manufacture the Airbus A380 actuation valves, which signifies trust within it's supplier-customer network. On June 22, 2006, Eaton announced a tentative decision to close its fluid power division hydraulics plant in Hutchinson, Kansas [link]

References

The History of Eaton Corporation 1911-1985
[Securities and Exchange Commission]

External links

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