To find out more about the cookies we use and how to control them, please visit our privacy, cookies and data protection page. In an example of the company's increasing shift to high-tech business lines--and as a reflection of a 50 percent increase in R&D spending that Hardis enacted--Eaton introduced the VORAD Safety System, a radar unit designed to provide visual and audible warnings to truck drivers if they are too close to a vehicle ahead. However, there is little accountability there. With plants in several states, Eaton was one of the largest automotive-parts manufacturers in the U.S. and its diverse product line enabled the company to survive the Depression. Principal Subsidiaries: Eaton MDH Co. Inc.; Aeroquip International Inc.; Eaton Electrical Inc.; Eaton Hydraulics Inc.; Eaton International Corporation; Integrated Partial Discharge Diagnostics, Inc.; Modern Molded Products, Inc.; Vickers International Inc.; CAPCO Automotive Products Corporation; Eaton Aeroquip Inc.; Eaton Inoac Company; G.T. The deal made Eaton the number two player in the hydraulic equipment market, trailing only Parker Hannifin Corporation. Diversification of its product line also included a new line of parts for aircraft engines. In 1984, 12 of the company's automotive components plants were closed, and the workforce was reduced to 41,000, down from 63,000 in 1979. Copyright (c) 2019 Company-Histories.com. The company has 6 principals on record. In January 2003 Eaton acquired the electrical division of Delta plc for $215 million. Among the brands that Eaton uses to market its products and services are Aeroquip, Airflex, Bill, Boston, Char-Lynn, Challenger, Durant, Eaton Electrical, Elek, Fuller, Golf Pride, Heinemann, Holec, Home Automation, Hydro-Line, MEM, Sterer, Tabula, Tedeco, Vickers, VORAD, and Weatherhead. OH An article in the June 1993 issue of Forbes magazine suggested that AutoSelect might also be intended to attract more female drivers to the shorthanded trucking industry, an allegation that Eaton strongly denied. The following year, the company was incorporated as the Torbensen Axle Co. By 2003, Eaton Corp.'s diversified industrial manufacturing operations served markets ranging from commercial aerospace, military defense, automobile, and truck components, to industrial machinery and electrical distribution and control equipment. Menu & Reservations Make Reservations . EATON CORPORATION PUBLIC LIMITED COMPANY (Ireland, 10 May 2012 - ) EATON CAPITAL GLOBAL HOLDINGS UNLIMITED COMPANY (Ireland, 1 Sep 2017 - ) EATON CORPORATION (New Jersey (US), 25 Apr 1955 - ) branch EATON CORPORATION (Delaware (US), 3 Oct 2017 - ) branch EATON CORPORATION (Maine (US), 8 Oct 2008 - ) branch EATON CORPORATION. (formerly Cleveland Worm & Gear) and closed the old Tinnerman fastener plant at 8700 Brookpark after the workers refused to agree to concessions. Eaton Corporation also provides aerospace fuel, hydraulic and pneumatic systems for commercial and military use. Building its semiconductor business, through which Eaton had a dominant position in the market for ion implanters, used to produce memory chips, the company in July 1997 acquired Fusion Systems Corp., a maker of semiconductor equipment based in Rockville, Maryland, for about $293 million. Add reviews and photos for Eaton Corp. Eaton Corp appears in: Electricians, Electric Equipment & Supplies Wholesale & Manufacturers, Aerospace, Telecommunications Equipment Wholesale & … What makes Eaton stand out amongst our peers is our power management focus, our values-based culture and our philosophy to run the enterprise as an integrated operating company. de C.V. (Mexico); Eaton Molded Products S. de R.L. The main thing I will take away from this place is the dysfunctional front office staff. New Eaton Corporation jobs added daily. (Switzerland); Eaton SA (Switzerland); Rubberon Technology Corporation Limited (Thailand); Eaton Electric Limited (U.K.); Eaton Limited (U.K.); Cutler-Hammer de Venezuela S.A. Then in 1917, by which time production had soared to 33,000, the company was sold to Republic Motor Truck Co., the largest truck maker in the country. Eaton Corp 1750 Hardeman Ln NE Cleveland TN 37312. But, something much smaller could help … The balance sheet improved significantly as total debt was reduced to less than $2 billion. Continuing to Evolve in the Early 21st Century. Source: International Directory of Company Histories, Vol.67. CLEVELAND, OHIO… Yesterday, Eaton Corporation (NYSE:ETN) ceased processing e-mail to and from the Internet due to the effects of the ILOVEYOU computer virus. Moreover, the Yale & Towne division's ventures in forest equipment and lift-truck manufacturing proved barely profitable (in February 1978 Eaton had sold the Yale lock and security business to Thomas Telling Ltd.); 1980 was a particularly bad year for Eaton. That year, Eaton registered its first loss in 50 years, $189.6 million on sales of $2.4 billion. Ironically, the automotive division generated most of the company's profit the following year. Bhd. The company's roots are in low-tech commodity parts for trucks and automobiles, but--particularly since the mid-1990s--Eaton has shifted focus to the manufacture of a variety of electronics-based products. Eaton uses cookies to help us give you the best experience on our website. Over the next few years, with the economic downturn providing a particularly difficult environment for industrial manufacturers, Eaton managed to consistently beat the expectations of Wall Street and remain profitable, culminating in 2003 in net income of $386 million on sales of $8.06 billion. Eaton next sold its Navy Controls unit, maker of shipboard integrated electrical power distribution and control systems for the Navy, to DRS Technologies, Inc. in July 2002 for $92.2 million. The company's principal address is 1000 Eaton Blvd, Cleveland, OH 44122-6058 and its mailing address is 1000 Eaton Blvd 1111 Superior Avenue, Cleveland, OH … Shifts into New Businesses and New Products,", "Eaton: Poised for Profits from Its Shift to High Technology,", "Eaton: Spinning Its Wheels on the Road to High-Tech Profits,", Gerdel, Thomas W., "Controlling Its Destiny: Eaton Takes Big Bite with Westinghouse Deal,", ------, "Cultivating Success: Eaton Corp. Enjoys Bounty of Seeds Planted Years Ago,", ------, "Eaton Buys Powerware for $560 Million,", ------, "Eaton Plans $1.1 Billion Acquisition,", ------, "Eaton's New CEO Values Team Play: Cutler Will Continue to Streamline Efforts, Seek Diversification,", ------, "Eaton to Buy Manufacturer for $1.7 Billion,", ------, "Taking a High-Tech Turn: Eaton Corp. Is Pursuing New Business in New Ways,", Hussey, Allan F., "Profitable Overhaul: A Slimmer Eaton Moves into High-Growth Fields,", Illingworth, Montieth M., "Road to Recovery: Eaton's Drive to Cut Costs Begins to Pay Off,", Lewis, Morgan, Jr., "Change Maker: At Only 53, Eaton Corp. CEO Alexander 'Sandy' Cutler Has Distinguished Himself As One of the Region's Foremost Business and Civic Leaders--and He's Just Getting Started,", Norton, Erle, "Westinghouse Plans to Sell Unit to Eaton Corp.,", Phillips, Stephen, "Eaton Sees Its Future--and It's on the Ground,", Sherefkin, Robert, "Hardis Handing over Top Spot,", Stern, Andrew, "Eaton: Keep on Truckin'?,", ------, "Unfazed by the Challenge: Eaton Corp.,", Whitney, Allison A., "Eaton AIL Settles DOD Probe: Agrees to Pay $9.5 Million,". Ltd. (Australia); Eaton Holding G.m.b.H. The purchase, completed in February 1994 and at that point the largest in the company's history, advanced Eaton to a top position in industrial control and power distribution markets, providing such products as circuit breakers. In 1918, Torbensen Axle became a subsidiary of the Republic Motor Truck Co., then the largest truck manufacturer in the U.S. and Torbensen's biggest customer. 1978: Electronics company Cutler-Hammer Inc. is acquired; the Yale lock and security business is divested. de C.V. (Mexico); Eaton Automotive B.V. (Netherlands); Eaton B.V. (Netherlands); Eaton International B.V. (Netherlands); Vickers Systems Limited (New Zealand); Eaton Automotive Spolka z o.o. Brazil was one of five countries the company was targeting for foreign growth, the others being China, India, Mexico, and South Korea. Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. (Germany); Eaton G.m.b.H. Aeroquip-Vickers produced hydraulic pumps, cylinders, motors, and drives as well as fittings and hoses for industrial, aerospace, and automotive markets. The structure was one of the structures that expanded Cleveland's central business district eastward in the early-1980s building boom in the city. Founded in 1911 by Viggo Torbensen, Joseph Oriel Eaton, and Eaton's brother-in-law, Henning O. Taube, the company moved from its original location in Bloomfield, New Jersey to Cleveland in 1915. Stephen R. Hardis, vice-chairman and CFO since 1986, was named CEO and chairman. & Co. K.G. See BBB rating, reviews, complaints, & more. In 1964, the company moved its headquarters into the new Erieview Tower where it remained until 1983. This division produced hose, tubing, and fluid connectors for fluid power systems mainly for the industrial distribution, mobile off-highway, and heavy-duty truck markets. Introduced in 1993, AutoSelect promised the trucking industry increased fuel efficiency, safer and easier driving, and drastically lowered training costs. Following the merger with Yale & Towne, the company executed a careful integration of managerial personnel; officials at Yale & Towne were given important permanent positions in the new company. It was suspended from bidding on new Air Force contracts, and, in March 1988, AIL paid the Department of Defense $9.5 million to settle improper billing charges. The new leader oversaw the separation of the semiconductor equipment business. Search job openings, see if they fit - company salaries, reviews, and more posted by Eaton employees. The EATON CORP., a diversified industrial manufacturer which makes fluid power, electrical, automotive, and truck products, was founded as the Torbensen Gear & Axle Co. to make truck axles. Jim Stover, president and chief operating officer of Eaton since 1979, was named chairperson and CEO when de Windt retired on April 23, 1986. In 1919, Joseph Eaton left Republic to form the Eaton Axle Co., which soon became a leading firm in the field. Engineering. OH Privacy Policy, Aeppel, Timothy, "Eaton to Pay $1.7 Billion for Aeroquip,", Bergstrom, Robin Yale, "Eaton: The Next Level,", Cochran, Thomas N., "Rusty No More: Eaton Corp. At the end of the year, Stover unexpectedly placed the company's defense electronics business, AIL Systems, Inc., up for sale, noting quality control problems and reduced orders for the division's B-1B bomber systems. 50 Eaton jobs available in Beachwood, OH on Indeed.com. Whereas Bendix acquired new product lines, and Rockwell added electronics products to its line, Eaton began to focus on the less volatile truck components market, as well as on expansion into foreign markets. From 1920s-1964 Eaton was based on East 140th Street in Cleveland, Ohio. The following year, Eaton sold or closed down 18 subsidiaries whose profits were marginal or nonexistent. In March 2001 Eaton purchased Sumitomo Heavy Industries, Ltd.'s 50 percent interest in the two companies' fluid-power joint venture in Japan, which was subsequently renamed Eaton Fluid Power Limited. Proceeds from the IPO were used to pay down debt, which stood at approximately $3 billion early in 2000. Despite its continued committment to the region, Eaton Corp.'s acquisitions throughout the 1990s characterized a company equally committed to further diversification. Today's top 83 Eaton Corporation jobs in Cleveland, Ohio, United States. Domestic sales from its automotive division continued, however, to provide the largest share, over 50 percent, of Eaton's revenues. 1971: Company's name is changed to Eaton Corporation. Apply to Intern, Production Supervisor, Supply Chain Manager and more! (India, 1 Jan … 51 Eaton jobs in Cleveland, OH. A strong believer in "divisional autonomy," Virden ensured that Eaton's subsidiaries and divisions maintained a large degree of managerial independence. Get reviews, hours, directions, coupons and more for Eaton Corporation at 12875 Corporate Dr, Cleveland, OH 44130. Like any place there were a lot of ups and downs. As a result, all three companies attempted further diversification of their operations. (Germany); Walterscheid Rohrverbindungstechnik GmbH (Germany); Eaton Electric & Engineering Services, Limited (Hong Kong); Eaton Limited (Hong Kong); Eaton Industries Private Ltd. (India); Eaton Automotive Ltd. (Ireland); Eaton Automotive Srl (Italy); Eaton Srl (Italy); Eaton Fluid Power Srl (Italy); Eaton Fluid Power Limited (Japan); Eaton Japan Co., Ltd.; Eaton Holding S.a r.l. In the 1970s, decreased demand for American cars severely affected the three largest manufacturers of automobile components: Bendix Corporation, Rockwell International, and Eaton. de C.V. (Mexico); Eaton Finance, S. de R.L. Unable to sell the subsidiary, Eaton sustained it as a discontinued operation until mid-1993, when it was "reconsolidated," according to that year's annual report. de C.V. (Mexico); Eaton Industries S. de R.L. (Brazil); Aeroquip-Vickers Canada Inc.; Eaton Yale Ltd. (Canada); Eaton China Investments Co., Ltd. (China); Eaton Truck & Bus Components Company (Shanghai) Co. Ltd. (China); Eaton Fluid Power (Jining) Co. Ltd. (China); Eaton Fluid Power (Shanghai) Co. Ltd. (China); Shanghai Eaton Engine Components Company, Ltd. (China); Zhenjiang Holec Electrical Systems Company Limited (China); Eaton Industries s.r.o. Its revenues for 1998 were $2.15 billion. By the late 1930s industrial growth was stimulated by President Roosevelt's New Deal program, and demand for products from the Eaton Manufacturing Company--a name change registered in May 1932--increased slowly and steadily. The firm changed its name yet again in 1971 to Eaton Corp. and throughout the 1970s, the company was adversely affected by declining sales of domestic vehicles. This organization is not BBB accredited. Alexander M. Cutler, a strong operations executive who had run the controls group since 1989 and who had joined the company when Cutler-Hammer was acquired in 1978, was named president and chief operating officer. 11201 Euclid Ave. In 1922 Eaton reentered the picture, buying back his original company from Republic Motor Truck Co. and renaming it one year later the Eaton Axle and Spring Co. Over the next several years, the company acquired several smaller auto parts manufacturers, including makers of chassis leaf springs, bumpers, engine valves and tappets, and coil springs. It is one of the global technology leaders… In 1966 Eaton Yale & Towne experienced record growth in sales and profits, largely as a result of an expansion in industrial growth. During 1995 Butler retired after 38 years with the company. Finally, we can read about how these great companies came about with Company Histories.. The business areas of Cleveland-based Eaton Corporation resemble an industrial smorgasbord. Eaton sold its truck axle and brake business to Dana for $287 million, while simultaneously buying Dana's clutch business for $180 million, gaining a business that meshed well with Eaton's truck transmission product line. Stover took over after Eaton had reported a 1985 profit of $231 million on sales of $3.7 billion. CLEVELAND — Eaton Corporation is known worldwide for their technology including electrical, aerospace and hydraulics. Taking over as chairman, president, and CEO was Cutler. The Eaton Center is a skyscraper in downtown Cleveland, Ohio.The building has 28 stories and rises to a height of 356 feet (109 m). Eaton generates business in more than 100 countries worldwide, with about one-third of revenues originating outside the United States--19 percent in Europe and about 6 percent each in Latin America and the Asia-Pacific region. Continued acquisitions into the following decade gave the company expertise in the manufacture of valves, pumps, and precision engine parts. See reviews, photos, directions, phone numbers and more for Eaton Corporation locations in Cleveland, OH. Eaton also initiated a $470 million diversification program to develop a new line of factory automation products. Livia was purchased by Eaton in 1961. Eaton is a power management company with 2014 sales of $22.6 billion. Eaton has approximately 102,000 employees and sells products to customers in more than 175 countries. One month later, Eaton sold its vehicle-switch and electronics division to Delphi Automotive Systems Corp. for $300 million. In 1953 Livia, a small Italian manufacturer of engine valves, acquired technological assistance and a production license from Eaton. The Eaton Corporation is a diversified industrial manufacturer with annual sales of more than $11 billion. Determined to reduce the company's exposure to the vagaries of the automotive components business, de Windt declared that Eaton had now dedicated itself to becoming a "high technology company servicing the growth markets of the 1980s.". Under the leadership of E. Mandell de Windt, Eaton Corp. carefully planned its future acquisitions with an eye to recession-resistant diversity and balance. The Westinghouse deal was a significant force behind a 37 percent increase in revenues in 1994, to $6.05 billion. Eaton then spun off its remaining 82 percent interest to shareholders in December of that year. While Eaton continued its expansion in high-tech electronics, automotive drivetrains and truck components, the company divested itself of several divisions, including its worldwise axles, brake, and automotive leaf spring businesses, which effectively ended Eaton's original two product lines. During the development stage, however, high capital investments and low profit margins ensued, and Eaton began to struggle financially. This segment of Eaton's business had suffered several other setbacks during this period as well. The pay and benefits at Eaton Hydraulics are good, and upper management is very lenient and accommodating. In that year, Eaton Corporation moved into a 28-story Cleveland office tower which was renamed for it. Nevertheless, profits rebounded the following year, fueled by surging sales in the North American market for sport utility vehicles. Search for other Electric Equipment & Supplies-Wholesale & Manufacturers in Cleveland on The Real Yellow Pages®. Eaton Corporation is located in Cleveland, OH, United States and is part of the Industrial Control Products Manufacturing Industry. Continuing to seek strategic acquisitions and grow overseas, Eaton spent $135 million in March 1996 for CAPCO Automotive Products, a Brazilian producer of manual transmissions for medium trucks. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic and mechanical power – … This unit was taken public as Axcelis Technologies, Inc. in July 2000 through an initial public offering of 18 percent of its stock. Get directions, reviews and information for Eaton Corp in Cleveland, TN. Leverage your professional network, and get hired. Locally, Eaton sold Industrial Drives Div. Eaton intended to combine the resources of these three companies in order to develop a new line of factory automation products. Eaton also bolstered its fluid power business by acquiring Walterscheid Rohrverbindungstechnik GmbH, a German manufacturer of hydraulic tube connectors and fittings, from GKN plc in September 2004 for $48 million. To finance the acquisition, Eaton subsequently sold off several operations, some of which had come to the company through Aeroquip-Vickers: Eaton's engineered fasteners business, to TransTechnology Corp.; its fluid power division, producer of engine cooling systems for cars and trucks, to Borg-Warner Automotive, Inc.; its Vickers electronic systems division, to Siemens Energy and Automation, Inc.; and its mobile hydraulic cylinder business, to Hyco International, Inc. Eaton also reorganized its operations into five segments: automotive components, fluid power and other components, industrial and commercial controls, semiconductor equipment, and truck components. There are 1281 companies in the Eaton Corporation … Eaton is committed to ensuring equal employment opportunities for all job applicants and employees. Eaton's global expansion resulted in annual sales increases from 13.4 percent in 1985 to nearly 30 percent by 1993. 44106, 10900 Euclid Ave. The company markets electrical products under the Powerware, Cutler-Hammer, Durant, Heinemann and Holec brand names to the utility, telecommunications … At 10 a.m. EST today, e-mail service was restored. From its new plant in EAST CLEVELAND, Joseph Eaton bought control of Torbensen Axle in 1922, and with the acquisition of two spring manufacturers and, in 1928, a heater manufacturer, the Eaton Axles and Spring Co. (as it was known since 1923) diversified its production to include automobile components. Late in 1997, for example, its appliance controls business was sold to Siebe plc for $310 million. Based in Raleigh, North Carolina, Powerware was a global leader in uninterruptible power systems (UPS) and other devices and services for protecting factories and offices from power surges and power interruptions. Expansion into Factory Automation in the Late 1970s. Eaton Corporation is a diversified industrial manufacturer whose operations are divided into four main groups: fluid power, electrical, automotive, and trucks. Yale & Towne was founded in the 1870s by the inventor Linus Yale, Jr., who developed a revolutionary pin-tumbler cylinder lock, or padlock, which proved popular and has remained essentially unchanged since its invention. Still susceptible to market fluctuations, the company recorded rather meager profits from 1989 to 1991, and reported a loss in 1992. That year, Eaton announced a plan to lessen its dependence on automotive components through the $1.1 billion acquisition of Westinghouse Electric Corporation's distribution and controls business unit--a bold move for a traditionally conservative company. The EATON CORP., a diversified industrial manufacturer which makes fluid power, electrical, automotive, and truck products, was founded as the Torbensen Gear & Axle Co. to make truck axles.Founded in 1911 by Viggo Torbensen, Joseph Oriel Eaton, and Eaton's brother-in-law, Henning O. Taube, the company moved from its original location in Bloomfield, New Jersey to Cleveland in 1915. In 1946 Eaton purchased the Dynamatic Corporation and one year later established a joint sales and engineering company with two British firms, Rubry Owen and E.N.V. (Germany); Eaton Fluid Power G.m.b.H. The Eaton Business System (EBS) is the embodiment of our integrated operating company philosophy — it is how we work at Eaton and how we run our company in a common way. When the United States became involved in World War II, Eaton, as a primary manufacturer of vehicle parts, produced a variety of items for the war effort. By 1993, other Eaton operations in the area included its Airflex plant in BROOKLYN, Telecomputer Center in Eastlake, and Manufacturing Technologies Center in Willoughby Hills. In 1978, with the automotive market still sluggish, Eaton made three acquisitions: Samuel Moore & Company, a manufacturer of hydraulic motors and transmissions; Kenway, a company specializing in robotic warehouse storage systems; and, most importantly, the electronics company Cutler-Hammer Inc., whose AIL electronics division had developed the ALQ-161 advanced radar counter-measures system for Rockwell's B-1 bomber and had also been chosen by NASA to build the landing system for the space shuttles. What goes on behind the scenes 18 subsidiaries whose profits were marginal or nonexistent our website Existence... Axles and gears to Ford Motor company and General Motors Corporation in Cleveland, OH on Indeed.com 2012 Eaton a... $ 22.6 billion R. Hardis, vice-chairman and CFO since 1986, was named president Eaton... And profits, largely as a result of $ 617 million on sales of $ 2.4 billion Automotive Controls (. 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