Document b5GR2Q3K0V3mr3KJZGBZxvLb3

Eaton History - Eaton Corporation Page 2 of 4 1969 - Acquired assets of Troy Tool Products Co. Inc., Pinebrook, NJ (micro-miniature connectors for electronic and communications industries). Built first "new philosophy" plant in Kearney, NE. 1970 - Acquired Char-Lynn Co. (hydraulic motors for agriculture and industrial equipment). 1971 - Stockholders approved change in company name to Eaton Corporation. 1978 - Acquired Cutler-Hammer Inc. (industrial control and power distribution, aircraft, commercial, appliance ar semiconductor) for nearly $400 million. 1981 - Eaton's defense business got a big push when the company was chosen as one of four prime contractor for the B-1B, supplying electronic countermeasures system. 1983 - Closed nine U.S. plants as pari of "Operation Shrink" and sold its Materials Handling businesses. 1983 - Expanded a 50/50 joint venture with Sumitomo Heavy Industries called SEHYCO (hydraulic motors and transmissions). Established a 50/50 joint venture with Sumitomo (ion implanters). Purchased a 30 percent intere in Ghisalba SPA (industrial controls). 1988 - Acquired Cessna's Fluid Power Division, with plants in Glenrothes. Scotland, and Hutchinson, KS, which increased the size of the company's hydraulics business by 50 percent. 1994 - Purchased Westinghouse's Distribution and Control Business Unit for $1 billion, the second largest acquisition in the company's history. 1997 - Sold its worldwide Appliance Controls business to Siebe pic for $310 million. 1998 - Sold its worldwide Axle and Brake business to Dana Corp. for $287 million. 1999 - Acquired Aeroquip-Vickers Inc., a global manufacturer of engineered components and systems for industrial, aerospace and automotive markets, for $ 1.7 billion. Aeroquip-Vickers is the largest acquisition in Eato history. 2000 - Eaton President and Chief Operating Officer Alexander M. (Sandy) Cutler becomes Eaton's 10th chairm; and chief executive officer and maintains the title of president. 2000 - Concluded the spin-off of its semiconductor equipment business, Axcelis Technologies Inc. 2001 - Purchased Sumitomo Heavy Industries Ltd.'s 50 percent interest in its fluid power joint venture (SEHYCC renamed Eaton Fluid Power Ltd.; this was the company's first wholly owned Japanese business. 2001 - Sold its automotive Vehicle Switch/Electronics Division, a manufacturer of a wide range of electromechanical and mechatronic controls for automotive applications, to Delphi Automotive Systems for $300 million. 2001 - Eaton selected by Lockheed Martin to provide the primary fluid power system for the Joint Strike Fighter program; award expected to generate nearly $1 billion for Eaton over the life of the contract. 2002 - Sold its Navy Controls business to DRS Technologies Inc. for $92.2 million. 2002 - Purchased the remaining 40 percent interest in its Jining Eaton Hydraulics Company Ltd. (JEHYCO) hydraulic systems joint venture company in Jining, China. 2002 - Acquired the Boston Weatherhead division of Dana Corp. (hose, tubing and fluid connectors for fluid pow systems) for $130 million. 2002 - Purchased the aerospace circuit breaker line from Mechanical Products Inc. 2003 - Acquired the power systems business (power factor correction systems and harmonic filters for power quality and energy management applications) of Commonwealth Sprague Capacitor Inc. 2003 - Purchased the electrical division of London-based Delta pic. 2003 - Industrial and Commercial Controls business and Cutler-Hammer group are reorganized to become Eatc Electrical group. 2003 - Introduced a low-emission, hybrid-electric-powered delivery vehicle in concert with FedEx Express, a subsidiary of FedEx Corp., and advocacy group Environmental Defense. http://www.eaton.com/EatonCom/OurCompany/AboutUs/EatonHistory/index.htm 10/25/2010