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Eaton History - Eaton Corporation Page 1 of 4 89.18 +1.31 9 10:34 AM ET on 10-25-2010 HOME I CONTACT I SIGN-IN ISearch J F:T*I\I Powering Business Worldwide PRODUCTS a SERVICES 9 CUSTOMER CARE 9 MARKETS 9 OUR COMPANY OUR COMPANY About Us From the CEO Corporate Information Business Groups Eaton History____________ Careers Doing Business Investor Relations News & Events Success Stories Sustainability White Papers EATON HISTORY Eaton Corporation has been serving the needs ol its customers lor nearly 100 years. During this time. we've progressed from a small truck parts supplier to a multinational diversified industrial. Follow some of the key historical events that contributed to Eaton's transformation below. Major Milestones 1911 - J. O. Eaton, brother-in-law Henning O. Taube and V. V. Torbensen incorporated the Torbensen Gear anAxle Co. in Bloomfield. NJ. The company built seven axles by hand in 1911. Just six years later, axle production had increased to 33,000. . 1914 - Torbensen Gear and Axle moved to Cleveland on the advice of Edith Eaton, J.O. Eaton's wife, and was incorporated in Ohio as the Torbensen Axle Co. ' 1917 - Torbensen Axle Co. was sold to Republic Motor Truck Co., the nation's largest truck manufacturer and Torbensen's biggest customer. ' 1922 - J. O. Eaton bought back his original company, Torbensen Axle Co., from Republic Motor Track Co. 1923 - Company changed name to The Eaton Axle and Spring Co. 1923 - J. O. Eaton bought The Eaton Axle Co. plant at East 140th Street in Cleveland, The Perfection Spring C< (chassis leaf springs) and other properties from the receiver of Standard Parts Company. 1923 - The Eaton Axle and Spring Co. acquired Cox Brothers Manufacturing Co. Inc., Albany, NY (bumpers). 1930 - Acquired control of Wilcox-Rich Corp. (engine valves, tappets, valve seat inserts, hardened and ground engine parts), making Eaton the largest manufacturer of auto valves and tappets in the world, and the Peterson Spring Co. (coil springs). Both acquisitions were from Detroit. * 1932 - Changed name to Eaton Manufacturing Co. 1935 - Acquired Detroit Motor Valve Co., Detroit (engine valves). 1946 - Acquired Dynamatic Corp., Kenosha, Wl (eddy current power devices). 1949 - J.O. Eaton died in his home in Cleveland at the age of 75. 1958 - Acquired Fuller Manufacturing Co. (heavy-duty track transmissions), subsidiary Shuler Axle Co. and Unit Drop Forge, Kalamazoo. Ml. 1963 - Acquired Yale & Towne Manufacturing Co. (locks and hardware, and materials handling equipment) and Dole Valve Co. (appliance and automotive valves). 1963 - Fuller Transmission Division introduced the Roadranger twin-countershaft track transmission. 1966 - Company changed corporate name to Eaton Yale & Towne Inc., reflecting the 1963 merger with Yale S Towne Inc. 1968 - Acquired Fawick Corp. (clutches, brakes and compound rubber golf club grips) and American Monorail C (overhead conveyor cranes and stackers), both of Cleveland. 1969 - Chairman E. L. Ludvigsen retired: E. M. de Windt named chairman: William Mattie elected president. 1969 - Sold Dearborn Marine, which had been acquired in I960.. 1969 - Acquired Tinnerman Products, Inc. (fasteners), Cleveland, and McQuay-Norris Manufacturing Co. (automotive parts distribution), St. Louis. MO. SC-EEI-2000 http://www.eaton.com/EatonCom/OurCompany/AboutUs/EatonHistory/index.htm 10/25/2010 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-Lynri Co. (hydraulic motors for agriculture and industrial equipment). 1971 - Stockholders approved change in company name to Eaton Corporation. 1978 - Acquired Cutter-Hammer Inc. (industrial control and power distribution, aircraft, commercial, appliance ar semiconductor) for nearly $400 million. ' 1961 - 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 US. 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 woridwide 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 otficer 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 Eaton History - Eaton Corporation Page 3 of 4 2003 - Unveiled the world's first 5000-psi commercial aircraft hydraulic pump specifically designed for the wortd' largest passenger aircraft - the Airbus A380. 2003 - Formed Intelligent Switchgear Organization LLC, a joint venture with Caterpillar Inc. to provide a total systems approach to integrated, reliable electric power solutions for customer needs. 2004 - Formed a joint venture with Changzhou Senstar Automobile Air Conditioner Co. Ltd. in China to produce automotive air conditioning hose and tube assemblies, and power steering hose and tube assemblies. 2004 - Purchased UK-based Ultronics Limited and its advanced electro-hydraulic valve system technology.. 2004 - Acquired the Electrum Group Ltd., a New Jersey-based company that provides power management services and web-based software for telecommunications, data center and government applications. 2004 - Formed a joint venture with FAW Jiefang Automotive Co. Ltd., in Changchun. China to produce a comple line of medium-duty truck transmissions. 2004 - Purchased Powerware Corp., the power systems business of Invensys pic, for $560 million. 2004 - Purchased the Walterscheid Rohrverbindungstechnik GmbH hydraulic connector business from GKN pic $48 million. 2005 - Purchased Pigozzi S.A. Engrenagens e Transmlssdes, an agricultural powertrain business located in Caxias do Sul. Brazil. . 2005 - Purchased the businesses of Winner Group Holdings Ltd., a China-based company that produces hydrai hose fittings and adapters for the greater Chinese market. 2005 - Purchased Mexican automotive lifter manufacturer Morestana S.A. de C.V. 2005 - Bought Tractech Holdings, Inc. 2005 - Purchased the industrial filtration business of Hayward Industries. 2005 - Acquired the assets of Pringle Electrical. 2005 - Bought Cobham pic's aerospace fluid and air division. 2005 - Bought PerkinElmer's aerospace division. 2006 - Eaton completes purchase of Synflex, maker of thermoplastic hoses and tubing, from Saint-Gobain Performance Plastics Corp.. 2006 - Eaton completes purchase of Ronningen-Petter industrial fine filtration business from Dover Resources I 2006 - Eaton acquires the diesel fuel processing technology and associated business assets of Catalytica Eneri Systems Inc. 2006 - Reached a definitive agreement with Dover Resources, Inc. to purchase its Ronningen-Petter industrial f filtration business. 2006 - Acquired Senyuan International Holdings Ltd. Its wholly owned subsidiary, Changzhou Senyuan Switch Co., Ltd. is a well-established manufacturer of vacuum circuit breakers and other electrical switchgear componei in the People's Republic of China. 2006 - Acquired the remaining 50 percent ownership of Schreder-Hazemeyer from Schreder SA, a manufacture low- and medium-voltage electrical distribution switchgear based in Brussels, Belgium. Eaton had acquired half ownership when it bought the electrical division of Delta pic in 2003. .' 2007 - Acquired the Power Protection Business of Power Products Ltd., a Prague-based distributor and service provider for Powerware and other uninterruptible power sources. 2007 - Purchased AT Holdings Corp., the parent of Argo-Tech Corp.. a leader in high-performance aerospace systems for commercial and military markets. 2007 - Acquired Aphel Technologies Ltd., a global supplier of high-density, fault-tolerant distribution solutions fo data centers, technical offices, laboratories and retail environments. 2007 - Purchased the fuel components division of Saturn Electronics & Engineering Inc. http://www.eaton.com/EatonCom/OurCompany/AboutUs/EatonHistory/index.htm 10/25/2010 Eaton History - Eaton Corporation Page 4 of 4 2007 - Acquired the technology and related assets associated with SMC Electrical Products lnc.'s industrial medium-voltage adjustable-frequency drive division. 2007 - Acquired Pulizzi Engineering, a leading manufacturer of AC power distribution, AC power sequencing, redundant power and remote-reboot power management systems. 2007 - Sold its Mirror Controls Division, part of Eaton's Automotive Group. 2007 - Acquired the assets of Babco Electric Group, a manufacturer of specialty low- and medium-voltage switchgear and electrical housings for the Canadian gas and oil industry and in other harsh environments. 2007 - Completed the purchase of the small systems business of Schneider Electric's MGE UPS Systems. (Uninterruptible power supplies, power distribution units, static transfer switches and surge suppressors). 2007 - Acquired Arrow Hose & Tubing Inc., a manufacturer of specialty thermoplastic hose and tubing for the industrial, food and beverage, and agricultural markets. 2007 - Ethisphere Institute names Eaton one of the world's most ethical companies, an honor bestowed annuall on Eaton through at least 2010. 200S - Honored by CALSTART, North America's leading advanced transportation technologies consortium, with Blue Sky Award for pioneering heavy-duty hybrid drive technology for trucks. 2008 - UPS and CocaCola announced plans to purchase fleets of delivery vehicles using Eaton hybrid drivetrair 2008 - Guangzhou Yiqi Bus Co. of China announced plans to purchase more than 200 city buses using Eaton diesel-electric hybrid power systems. 2008 - Eaton expanded European hydraulics business with acquisition of Integ Holdings Ltd. 2008 - Completed purchase of The Moeller Group, maker of commercial and residential building components at industrial controls. . 2008 - Completed acquisition of Phoenixtec Power Company Ltd., maker of uninterruptible power supply systen 2009 - Announced that Eaton's truck and electrical businesses would support a $45.4 million U.S. government stimulus grant to produce plug-in electric hybrid power systems for 378 vehicles, the nation's largest deployment commercial hybrid vehicles and electrical charging infrastructure support. 2009 - Newsweek ranked Eaton's environmental efforts among the top 10 percent of America's 500 largest corporations. 2010 - Solaris Bus & Coach of Poland announced commercial availability of the Solaris Urbino 12 city bus with Eaton's electric hybrid power system to reduce fuel consumption and emissions in Europe. Products & Services | Markets | Customer Care | Our Company Careers I Site Map I Contact I Privacy Policy I Terms & Conditions 11 Copyright 2010, Eaton Corporation, All Rights Reserved. http://www.eaton.com/EatonCom/OurCompany/AboutUs/EatonHistory/index.htm 10/25/2010 Eaton - Green Rating - Newsweek.com Page 1 of2 | SU8SCRlBl| I*""* ~1Q I BLOES: TH1 GflGGlf WEALTHttfKATHIHS DECLASSIKtO KUHAH COMHIOH NUflTURESHOCK TECW101HCSHIFTS Newsweek SUBSCRIBE NOW SAVE UP TO QQo/ OFF THE OU /O COVERPRCE Our cxchuavc envi ronmcntal ranking of America's 500 longest corporations. Shera: . ' ^8 investing mistakes you should avoid in 2010 If you have a S500.000 portfolio, download the gvde by Forbos columnist and money manager Ken Fisher. It's coDcd 'The Eight Biggest Mistake* Investors Make and How to Avoid Them* Even if -- BACK TO ALL 500 RANKINGS RANK 43 OF 500 Eaton Industry Sector General Industrials-- COMPANY RKMAKKS A key player in development of hybrid and tow emissions trucks; also produces electrical system products for green buildings. Has created hybrid systems, which cut emissions by approximately two-thirds, for commercial vehicles for Coca-Cola, UPS, Wal-Mart and others. Now designing a carbon-neutral manufacturing plant. But also, according to the EPA, a top emitter of toxic pollutants. CATEGORIES Green Score Environmental Impact Score Green Policies And Performance Score Reputation Survey Score Trucas: D#J. lCOP Osta.'Campafljr Reported. SCORE 82.56 26.40 70.62 33.27 INDUSTRY SECTOR RANKING 3rd 13th 1st 17th TOP 500 RANKING 43rd 370th 30th 237th * (Xa u> s friKtiumtc-v to Gtun Rjh*lna eternised ConAgra'* Vfxtt Uw, mu*swing * bo nroneC Emfecmner^sl irrjtci Scon and G;fan Scsa v onAyro thctAd have betn fw*M 942 crertsU ConAgr/i ErrWervTwnLri tovaS Score and Gfeen Serna arc ntf Cttriy uv<vsbr to atoi rerrrwv * eve to tto mkeSaiiabc*' prtr.fc^vt/ noted We regra) to erio*. RESOURCE PROVIDERS: rXOAasee.'ehft rKnaMK*. (ne., an inaef-mdent rtvtismr.: 6*w. **vy toe 4et* esnufl-nt end cetadatrd 0>a rankmc* h wo* aiae mifanvto ttt jjenire!^ me Gjfon Pojdtr: and Pe^ormvtica a< to wkmB*. KLD 9riY-** environmental *?cHl i/wgtjTemence <Jey* wi rctTvanteawgrtewlda. *m*.Ma.COT KLD ii&f '*1 Click here to aowmoaq Fisher Investments* HiATURED Why Newsweek Produced the Green Rankings Greenwashing Corporate Reputations Gordon Brown's Copenhagen Cfrnate Plan Green Rankings: Methodology Green Rankings*. The Advisory Panel RRLATKII CONTENT Obama's Green Dream Team The World's Worst Man Made Disasters Solar Power's Amazing Rise The Most Fuel Efficient Cars The Century's Envirormenlal Leaders Click hero to order (he futi Newsweek Green Rankings Report 2009. . Get The Facts on America's Greenest Companies';... | Which Is Greener7 GREEN RANKINGS. luoett. a Iccflto adwflartanai en**onit**nol data Mm, mciitm m annRutiv*paitjrnuni:a mBaimvni-v# cod tn#<vgenv>rt Tf-a Emomnmens! incest Seer* in trie ra'watji based on n giucal evewji weenbusssteem , Corpr'steP-rjrv^ com conducau* to Rfuwtatov Sur<-r/ to; tne peon ronvnfft Ba<eo in u*tt*v it k tx vicrd* bigest oiKto olecn^n>Htsaed total rawer,wo<llr- *i*lakwea/aeM enveon'wm ti&ori* .1S^Cor|>ir.iut'r.i n AIKPM.N'KN (UE&9 CJ(in.S&SIM^ A http://greenrankings-origin.newsweek.com/companies/view/eaton 10/25/2010