Eaton Corporation

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Eaton Corporation plc

logo
legal form public limited company
ISIN IE00B8KQN827
founding 1911
Seat Dublin , IrelandIrelandIreland 
management Craig Arnold ( Chairman and CEO )
Number of employees 96,000
sales $ 20.4 billion
Branch mechanical engineering
Website www.eaton.com
As of December 31, 2017

The Eaton Corporation is a global Irish industrial companies based in the Eaton House in Dublin and a major administrative center in the Eaton Center in Cleveland . Eaton develops and sells components and systems for mobile and industrial hydraulics , electrical systems and power distribution , vehicle and aircraft components. Eaton has 102,000 employees and sells products to customers in more than 150 countries.

With sales of 22.6 billion US dollars, Eaton generated an EBIT result of 2.23 billion US dollars in 2014 . Eaton is listed in the S&P 500 .

Eaton is Ireland's largest company according to Forbes Global 2000 .

history

The Eaton Center in Cleveland, Ohio. The company's administrative building since 1983
15-08-Shift-Knob-Kenworth-IMG 1723.JPG

Eaton Corporation was founded in 1911 by the inventor Viggo Torbensen and Joseph Eaton in Bloomfield , New Jersey under the name Torbensen Gear and Axle Co. founded. Torbensen previously operated the Torbensen Motor Car Company . As the Midwest developed more and more into a center of the automotive industry, the company headquarters were relocated to Cleveland in Ohio in 1915. In 1923 the name was changed to Eaton Axle & Spring and it was listed on the New York Stock Exchange .

Shortly before the global economic crisis , the company almost tripled its share capital and thus secured liquidity for investments. It bought Wilcox-Rich and became active in the aircraft construction sector. In 1930, Eaton Corporation took over spring washer manufacturer Reliance Manufacturing Co. and in 1932 it was renamed Eaton Manufacturing Company .

In 1946 the Eaton Corporation bought the Dynamatic Corporation and expanded its business field to include electronics. The Dynamatic Corporation was active in the Second World War from 1941 to 1946 as a manufacturer of force gauges that were used in aircraft engines. In 1995 the Eaton Corporation split up the business areas of the Dynamatic Corporation and sold part of it to private investors who continued to use the name Dynamatic Corporation. In addition, the company expanded its business into the international market for the first time in 1946 and acquired shares in Hobourn-Eaton Manufacturing Company Ltd. from Great Britain which manufactured motor pumps and gearboxes. The expansion of the business fields from automotive accessories to aircraft and railroad construction and the takeover of further companies led to a steady increase in sales: In 1947, the Eaton Corporation generated sales of USD 99.6 million (net income: USD 7.4 million); 1953 sales were $ 201 million with a surplus of $ 9.7 million.

In the 1950s and 1960s, the existing business areas were expanded through a large number of company takeovers, also internationally: After more and more motor vehicle manufacturers had settled in Brazil , the company entered into a joint venture in 1957 and founded a branch in São Paulo , the Eaton SA Corp. A year later, with the takeover of Fuller Manufacturing, the second facility, Fuller de Brazil , was opened in Brazil.

In addition, Eaton Corp. 1954 Spring Perch Company (chassis springs), 1956 Automotive Gear Works , 1958 Shuler Axle Company and Unit Drop Forge , 1959 Cleveland Worm Gear and William Howe Industries . In 1960 Dearborn Marine Engines , in 1961 Dill Manufacturing Company and a 70% share in Eaton Livia SpA in Italy were added. ENV Engineering Company Ltd. followed in 1962 . in London and 1963 Dole Valve . In addition, a branch was opened in Argentina in 1961 .

The company was renamed Eaton, Yale and Towne in 1965, after it was merged with Yale & Towne Manufacturing Co. in 1963 . The Yale & Towne Manufacturing Co. also included BKS in Velbert , which in 1970 was the largest lock factory in Europe. In 1966 sales had risen to USD 795.6 million and net income was USD 51.4 million. At the end of the 1960s, international businesses accounted for 25% of total sales.

Eaton Corporation has had its current name since 1971 .

A decline in the demand for American motor vehicles forced the company to make structural changes in 1978. With the acquisition of Samuel Moore & Company , Kenway Systems and Cutler-Hammer , it expanded the area of ​​control technology and the aerospace industry. The Cutler-Hammer takeover was the largest takeover in the company's history to date, at USD 400 million. AIL was part of Cutler-Hammer and was commissioned in 1978 to develop a microwave system for the space shuttle .

In 1983 the Eaton Center in Cleveland was completed. It is approximately 108 m high and consists of a 25-storey and a 28-storey building section.

In 1984 Eaton sold its Timberjack subsidiary to Sequoia Associates for $ 26 million . In 1987 Eaton Corp. included in the Fortune 100 ranking for the first time . In 1989 it presented the prototype of an electric car.

In 1994 Eaton bought the Distribution and Control Business Unit (DCBU) of Westinghouse Electric Corporation for USD 1.1 billion .

In 1988 Cessna acquired the hydraulics division. and in 1996 CAPCO , the former automotive division of the Clark Equipment Company , which Clark had floated on the stock exchange in 1994. In 1999 Eaton took over Aeroquip-Vickers . In 1997, Eaton Corp. Together with Dana Holding Corporation, the marketing organization Roadranger , which marketed the products of both companies as a package, also in terms of service. In 2012 this cooperation was terminated. At the end of the 20th century, Eaton had 63,000 employees and 195 manufacturing facilities in 23 countries.

In 2000 the semiconductor division was spun off as Axcelis Technologies . In 2002, Eaton acquired Boston Weatherhead, the switch division of Mechanical Products Inc. , the power supply division of Commonwealth Sprague Capacitor Inc., and the electrical division of Delta plc. In 2005, the company doubled its aerospace business with the acquisition of Cobham plc and PerkinElmer . In 2007, foreign income was more than half of total sales.

In 2008, Eaton bought Moeller GmbH , a German manufacturer of low-voltage switching technology that has been operating as Eaton Industries GmbH since 2010 . Eaton and Linde Hydraulics established a strategic sales and service alliance in 2010 and in 2011 the German filter manufacturer E. Begerow GmbH & Co KG and Internormen Technology GmbH & Co. KG were acquired .

In 2012, Eaton bought Irish rival Cooper Industries , relocating its legal headquarters to Dublin, Ireland . There it bought Oldbrook House and had it converted into Eaton House by 2015, which from now on serves as the company's headquarters and replaced rented temporary office space in Dublin. In 2014 Eaton opened its first innovation center in Europe, the Eaton European Innovation Center (EEIC) in Roztoky , Czech Republic .

Web links

Commons : Eaton Corporation  - Collection of Images

Individual evidence

  1. ↑ Leadership
  2. ↑ a b Eaton Form 10-K Report 2017 , accessed May 20, 2018
  3. ↑ Pickard Chilton : Eaton House ( Memento of the original from March 4, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.pickardchilton.com
  4. ^ Eaton hungry for Irish expansion
  5. ↑ Fast Facts
  6. ↑ Annual report 2014, accessed on September 22, 2015 ( Memento of the original from October 17, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / eatonsite.com
  7. ↑ a b c d e f g h History Timeline ( Memento of the original from January 24, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , from: eaton.com, accessed February 20, 2016  @1@ 2Template: Webachiv / IABot / www.eaton.com
  8. ^ Eaton Corp. of Cleveland celebrates 100th anniversary , at cleveland.com on October 21, 2011, accessed February 20, 2016
  9. ↑ About , at: dynamatic.com, accessed February 20, 2016
  10. ↑ a b c Lehmann Brothers Collection. List of Deals , on: Harvard Business School website , accessed February 21, 2016
  11. ↑ Eaton, Yale Deal Moves . The Milwaukee Journal, Aug. 28, 1963, p. 21, online
  12. ↑ Stefan Wunsch. Velbert-Langenberg-Neviges in the 1970s . Sutton Verlag, Erfurt, p. 62; ISBN 978-3-86680-793-8 , limited preview in Google Book Search
  13. ↑ Eaton Center Cleveland , at: emporis.de, accessed on February 21, 2016
  14. ↑ New York Times, July 27, 1984: Timberjack Sold
  15. ^ The Lawrence Daily Journal-World of May 6, 1988: Cessna unit to be bought by Eaton Corp.
  16. ↑ Eaton buys CAPCO . Beaver County Times, Apr. 21, 1996, p. 15; on-line
  17. ^ Aeroquip-Vickers voted into history . Toledo Blade, April 9, 1999, online
  18. ↑ fleetowner.com of December 6, 2011: Dana, Eaton to dissolve Roadranger partnership
  19. ^ New York Times, May 6, 2000: Eaton Plans Spin Off of AXCELIS, Its Chip-Making Unit
  20. ↑ Official website of Linde Hydraulics from September 17, 2015: [1]
  21. ↑ Press release of August 15, 2011: Eaton Corporation Acquires E. Begerow GmbH & Co KG
  22. ↑ Reuters of May 12, 2011: Eaton Completes Acquisition of Internormen Technology Group  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Toter Link / in.reuters.com  
  23. ↑ US company Eaton buys: Almost 12 billion dollars for a stable mainstay. In: Handelsblatt . May 21, 2012, accessed February 21, 2016 .
  24. ↑ http://www.eaton.com/Eaton/OurCompany/NewsEvents/NewsReleases/PCT_430867
  25. ↑ Archive link ( Memento of the original from March 4, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / www.pickardchilton.com
  26. ↑ http://www.tpa.ie/projects/eaton-house/
  27. ↑ Eaton opens first European innovation center , at: enginetechnologyinternational.com, accessed on February 21, 2016