During the development stage, however, high capital investments and low profit margins ensued, and Eaton began to struggle financially. In the 1970s, decreased demand for American cars severely affected the three largest manufacturers of automobile components: Bendix Corporation, Rockwell International, and Eaton. 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. Today's top 83 Eaton Corporation jobs in Cleveland, Ohio, United States. 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. Proceeds from the IPO were used to pay down debt, which stood at approximately $3 billion early in 2000. Stephen R. Hardis, vice-chairman and CFO since 1986, was named CEO and chairman. 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. 50 Eaton jobs available in Beachwood, OH on Indeed.com. Introduced in 1993, AutoSelect promised the trucking industry increased fuel efficiency, safer and easier driving, and drastically lowered training costs. Leverage your professional network, and get hired. 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.". 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. The main thing I will take away from this place is the dysfunctional front office staff. Apply to Sales Engineer, Owner/Manager, Senior Manager and more! With ten plants and more than 100 locations worldwide, Powerware had revenues of $775 million for the fiscal year ending in March 2004. Aeroquip-Vickers produced hydraulic pumps, cylinders, motors, and drives as well as fittings and hoses for industrial, aerospace, and automotive markets. Reviews (423) 476-8747 Website. 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. This organization is not BBB accredited. The company's filing status is listed as In Existence and its File Number is 0002578106. Still susceptible to market fluctuations, the company recorded rather meager profits from 1989 to 1991, and reported a loss in 1992. 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. Principal Operating Units: Fluid Power Group; Electrical Group; Automotive Group; Truck Group. When Virden retired in 1969, E. Mandell de Windt, who had joined the company as a production clerk, was elected chairperson. 42 Eaton jobs available in Cleveland, OH on Indeed.com. (Czech Republic); Eaton Holec, AS (Denmark); Eaton Holec, OY (Finland); Eaton S.A. (France); Eaton Technologies S.A. (France); Eaton Automotive G.m.b.H. Although Eaton profited handsomely from the popularity of power steering and air-conditioning (which the company introduced in 1955), it was the 1963 merger with the local and material-handling products maker Yale & Towne, Inc., that moved Eaton into new markets. As a result, all three companies attempted further diversification of their operations. The company aimed to pay off the $930 million debt it incurred for the acquisition by 1998. See BBB rating, reviews, complaints, & more. (India, 1 Jan … 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. The Eaton Corporation is a diversified industrial manufacturer with annual sales of more than $11 billion. 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. Also in 2003 the industrial and commercial control business along with the Cutler-Hammer unit were renamed Eaton Electrical Inc. To find out more about the cookies we use and how to control them, please visit our privacy, cookies and data protection page. 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. 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. Eaton is committed to ensuring equal employment opportunities for all job applicants and employees. The Registered Agent on file for this company is Ct Corp System and is located at 1999 Bryan St., Ste. Eaton provides energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Search job openings, see if they fit - company salaries, reviews, and more posted by Eaton employees. As a result, Livia become the exclusive supplier of engine valves for Simca of France as well as for all trucks built by Fiat. Principal Competitors: Johnson Controls, Inc.; Parker Hannifin Corporation; Emerson Electric Co.; ITT Industries, Inc.; Siemens AG; Rockwell Automation, Inc.; General Electric Company. Eaton then spun off its remaining 82 percent interest to shareholders in December of that year. 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 addition, the company completed several smaller, "fill-in" acquisitions as well as the divestment of a number of nonproductive businesses. One noteworthy innovation was the AutoSelect automatic transmission, the result of $10 million and six years of planning. 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 pay and benefits at Eaton Hydraulics are good, and upper management is very lenient and accommodating. 1978: Electronics company Cutler-Hammer Inc. is acquired; the Yale lock and security business is divested. 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. The company's principal address is 1000 Eaton Blvd Mail Code 2n, Cleveland, OH 44122. Eaton Aerospace Group Fuel & Motion Control Systems Division 23555 Euclid Avenue Cleveland, Ohio 44117 Phone: (216) 692-6000 Fax: (216) 692-6331 Cage Code: 59875 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. It is one of the global technology leaders… Shortly thereafter, in 2013, the company moved its headquarters to a 580,000 square foot facility in suburban BEACHWOOD. Even so, automotive components, which had accounted for 79 percent of Eaton's sales in 1977, were down to 46 percent by 1983. 216.368.2000 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. Source: International Directory of Company Histories, Vol.67. After Joseph Eaton died in 1949, the company continued on its path of diversification through a continuing series of acquisitions. Domestic sales from its automotive division continued, however, to provide the largest share, over 50 percent, of Eaton's revenues. In 1966, the company changed its name to Eaton, Yale, & Towne, Inc. Get reviews, hours, directions, coupons and more for Eaton Corporation at 12875 Corporate Dr, Cleveland, OH 44130. Cleveland, During 1995 Butler retired after 38 years with the company. Eaton enjoyed its best year ever in 1999, posting net income of $617 million on revenues of $8.4 billion. 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. John C. Virden was named president of Eaton in 1958 and followed the company's diversification policy. 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. All rights reserved. (formerly Cleveland Worm & Gear) and closed the old Tinnerman fastener plant at 8700 Brookpark after the workers refused to agree to concessions. Cleveland, The layoffs will begin in … 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,". (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. In 2012 Eaton made a major expansion though the purchase of Cooper Industries, an Irish-based company. de C.V. (Mexico); Eaton Finance, S. de R.L. Locally, Eaton sold Industrial Drives Div. The company's name was changed once again on April 21, 1971, to Eaton Corporation. (Germany); Eaton Holding G.m.b.H. The deal made Eaton the number two player in the hydraulic equipment market, trailing only Parker Hannifin Corporation. In June 2004 Eaton acquired Powerware Corporation, the power systems business of Invensys plc, for $560 million. Eaton's global expansion resulted in annual sales increases from 13.4 percent in 1985 to nearly 30 percent by 1993. 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.