Eaton Corporation
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| Public company | |
| Traded as | : ETN S&P 500 Component |
| Industry | Conglomerate |
| Founded | 1911 |
| Founder | Joseph Oriel Eaton II Viggo Torbensen |
| Headquarters | Corporate Headquarters - Eaton House 30 Pembroke Road Dublin 4 Ireland |
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Area served
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Worldwide |
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Key people
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Craig Arnold (Chairman, President & CEO) |
| Revenue |
 US$19.75 billion (2016)
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 US$2.1 billion (2016)
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US$1.93 billion (2016)
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| Total assets |
US$30.42 billion (2016)
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| Total equity |
US$14.9 billion (2016)
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Number of employees
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95,000 |
| Divisions | Electrical Sector Industrial Sector - Aerospace - Hydraulics - Filtration - Vehicle |
| Website | eaton |
Eaton Corporation Plc is a multinational power management company with 2016 sales of $19.7 billion, founded in the United States with corporate headquarters in Dublin, Ireland. Eaton has approximately 95,000 employees and sells products to customers in more than 175 countries.
In 1911, Joseph O. Eaton, brother-in-law Henning O. Taube and Viggo V. Torbensen, incorporated the Torbensen Gear and Axle Co. in Bloomfield, New Jersey. With financial backing from Torbensen's mother, the company was set to manufacture Torbensen's patented internal-gear truck axle. In 1914, the company moved to Cleveland, Ohio, to be closer to its core business, the automotive industry.
The Torbensen Axle Company was incorporated in Ohio in 1916, succeeding the New Jersey corporation. A year later, Republic Motor Truck Company, Torbensen's largest customer bought out the company. But Eaton and Torbensen were not content and bowed out of Republic to form the Eaton Axle Company in 1919. A year later, in 1920, Eaton Axle Company merged with Standard Parts. Standard Parts went in receivership later the same year and was later liquidated. In 1923, Eaton bought the Torbensen Axle Co. back from Republic and changed the name to the Eaton Axle and Spring Company.
Eaton officers believed the quickest way to grow the business was through acquisitions and began buying companies in the automotive industry. By 1932, the diversified company changed its name to Eaton Manufacturing Company. In 1937, Eaton became international by opening a manufacturing plant in Canada. In 1958 Eaton Corporation acquired Fuller Manufacturing. The company name changed once again in 1965 to Eaton Yale & Towne Inc. after the acquisition of Yale & Towne Manufacturing Co. in 1963. Stockholders approved the change to the company's current name in 1971. In 1978, Eaton Corporation acquired Samuel Moore & Company, Kenway Systems, and Cutler-Hammer in 1978.
Eaton's business comprises two sectors: Electrical and Industrial:
The Electrical Sector is a global leader in power distribution, power quality, industrial automation and power control products and services. Products include circuit breakers, switchgear, UPS systems, power distribution units, panelboards, loadcenters, motor controls, meters, sensors, relays and inverters. The principal markets for the Electrical Americas and Electrical Rest of World segments are industrial, institutional, government, utility, commercial, residential, information technology and original equipment manufacturer customers.
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Wikipedia