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Eaton Corporation, a Fortune 500 company based in Cleveland, Ohio, USA, is a global diversified industrial manufacturer with 2002 sales of $7.2 billion. Eaton has 51,000 employees and sells products in more than 50 countries. Eaton manufactures products for fluid power systems; electrical power distribution and control; automotive engine air management and fuel economy; and intelligent drivetrain systems for trucks.1 History
In 1911 Joseph O. Eaton, Henning O. Taube and Viggo V. Torbensen incorporated the Torbensen Gear and Axle Co. in Bloomfield, New Jersey. With financial backing from Eaton, 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.
In 1916, The Torbensen Axle Company was incorporated in Ohio, succeeding the New Jersey Corporation. A year later, Republic 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 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 went international with a manufacturing plant in Canada. The company name changed once again in 1966Events January January 1 In a coup, Colonel Jean-Bedel Bokassa ousts president David Dacko and takes over the Central African Republic. January 2 Strike of public transportation workers in New York City ends January 13 January 3 First Acid Test at the Fil to Eaton Yale & Towne, Inc. after the acquisition of Yale & Towne Manufacturing Co. in 1963Events January-March January 11 The Whisky A Go-Go night club in Los Angeles, the first disco in the USA, is opened. January 14 George Wallace becomes governor of Alabama. January 22 Elysee treaty between France and Germany January 28 Black student Harvey. Stockholders approved the change to the company's current name in 19711971 is a common year starting on Friday (click for link to calendar). Events January January 1 British divorce Reform Act comes into force January 2 66 die in stairway crush at Rangers v Celtic football match, Glasgow, Scotland. See Ibrox disaster. Janua. Eaton Corp. continues its founder's philosophy of growth through acquisition along with divesting businesses that no longer fit the corporate vision.
2 References
The History of Eaton Corporation 1911-1985
Securities and Exchange Commission
3 External Links
Eaton Corporation
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