Document mmgDDKQ1Qj2vRVRG8Ny70Ew3g

ABOUT EATON Eaton Corporation is a global manufacturer of highly engineered products which serve vehicle, industrial, construction, commercial and aerospace markets. Principal products include truck transmissions and axles, engine components, hydraulic products, electrical power distribution and con trol equipment, ion implanters and a wide variety of controls. Headquartered in Cleveland, the company has 52,000 employees and 150 manufac turing sites in 23 countries. About the cover Eatorfs major products on display. As the world's leading independent supplier of truck transmissions, Eaton offers the CEEMAT. a fully automated, 9-speed mechanical transmission. Eaton supplies automakers around the globe with engine valves (center) and is the world's leading manufacturer of ion implanters, which utilize an automated process disk (lower left) for handling wafers. Cutler-Hammer power distribution products include the Digitrip electronic trip unit (upper left), which provides state-of-the-art circuit protection. And Eaton has a growing business supplying electronic controls for gas and electric ranges (lower right). The narrative section which follows the letter to shareholders shows in both text and photographs how electronics are transforming Eaton's product offerings and giving customers added value. 1 TABLE OF CONTENTS 1 1. About Eaton 2. Five Years of Growth 3. Financial Highlights 4. To Our Shareholders 6. Improving Vehicle Safety, Comfort and Performance 9. Optimizing Factory Efficiency 10. Meeting Power Distribution Challenges 13. Automating the World's Best Truck Transmissions 14. Advanced Systems for Driver Safety and Productivity 17. Controls -- From the Job Site to the Kitchen 18. Ion Implanters: Benchmark for the Industry 20. Consolidated Financial Statements 24. Financial Review 33. Management's Discussion and Analysis 37. Report of Management 37. Report of Independent Auditors 38. Five-Year Consolidated Financial Summary 39. Corporate Officers 39. Appointed Vice Presidents 40. Directors 40. Committees of the Board 41. Shareholder information 0: i T