manufacturer . for other uses see eaton disambiguation . not to be confused with eton corporation . eaton corporation plc type public company traded as nyse 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 1 area served worldwide key people craig arnold chairman president & ceo revenue us 20.86 billion 2015 operating income us 2.01 billion 2015 net income us 1.98 billion 2015 total assets us 31.03 billion 2015 total equity us 15.19 billion 2015 number of employees 97 000 divisions electrical sector industrial sector aerospace hydraulics filtration vehicle website eaton.com eaton corporation plc is a multinational power management company with 2015 sales of 20.9 billion founded in the united states 2 with corporate headquarters 3 in dublin ireland . eaton has approximately 97 000 employees and sells products to customers in more than 175 countries . 4 contents 1 history 2 current work 2.1 electrical sector 2.1.1 electrical americas & electrical rest of world segments 2.2 industrial sector 2.2.1 hydraulics group 2.2.2 aerospace group 2.2.3 vehicle group 3 acquisitions 4 brands 5 headquarters 6 environmental record 7 corporate recognition and rankings 8 see also 9 notes 10 references 11 external links history edit 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 . citation needed current work edit eaton s business comprises two sectors electrical and industrial electrical sector edit electrical americas & electrical rest of world segments edit the electrical sector is a global leader in power distribution power quality industrial automation and power control products and services . citation needed 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 . industrial sector edit hydraulics group edit eaton is a manufacturer of systems and components for use in mobile and industrial applications . markets include agriculture construction mining forestry utility material handling machine tools molding power generation primary metals and oil and gas . the hydraulics group also includes eaton s filtration golf grip and airflex industrial clutch and brake businesses . aerospace group edit in california s aerospace industry the eaton corporation manufactures and markets a line of systems and components for hydraulic fuel motion control pneumatic systems and engine solutions . vehicle group edit the vehicle group comprises the company s truck and automotive segments . the truck segment is involved in the design manufacture and marketing of powertrain systems and other components for commercial vehicle markets . key products include manual and automated transmissions clutches and hybrid power . eaton s automotive segment produces products such as superchargers engine valves valve train components cylinder heads locking and limited slip differentials fuel emissions and safety controls transmission and engine controls spoilers exterior moldings plastic components and fluid connectors . acquisitions edit eaton electrical purchased the westinghouse distribution and controls business unit in 1994 which was also one of eaton s largest acquisitions . 5 the acquisition included all of the westinghouse electrical distribution and control product business and also included stipulations that the westinghouse name can not be used by anyone else on these types of products for years . today eaton electrical manufactures electrical distribution and control products branded eaton or cutler hammer which can replace westinghouse products in commercial and industrial applications . eaton spun off its semiconductor manufacturing equipment business as axcelis technologies in 2000 . in 2003 eaton s electrical distribution and control business formerly known as cutler hammer acquired the electrical division of delta plc. this acquisition brought delta s brands holec mem tabula bill and elek under the eaton nameplate 6 with the previous westinghouse divisions and gave the company manufacturing facilities to meet iec standards one of the steps to become a global company and developing a worldwide standard . soon after this acquisition eaton entered a joint venture with caterpillar inc. and purchased 51 % of i & s operations now known as intelligent switchgear organization llc . 7 this was followed in 2004 by the acquisition of powerware . 8 the powerware brand is known for the design and production of medium to large uninterruptible power system ups devices . after several years of co branding ups products eaton powerware the company is switching to the single brand eaton for all ups products including ; bladeups 9355 9390 9395 and 9e . in 2006 eaton entered the data center power distribution market . initial products were internally developed pdu s and rpp s under the powerware brand and included the powerxpert metering system . a powerware brand static transfer switch was added to the portfolio through a brand label relationship with cyberex . to complete the power distribution portfolio eaton released a line of rack power distribution products under its powerware brand called epdu . it acquired aphel technologies ltd. a manufacturer of power distribution product for data centers based in coventry uk . 9 shortly after it added pulizzi engineering inc. santa ana ca based manufacturer of mission critical power distribution . 10 in late 2007 it acquired the mge office protection systems division of schneider electric as a result of schneider s acquisition of apc . a taiwanese manufacturer phoenixtec was also acquired giving the company the highest share in the chinese single phase ups market . 11 on may 21 2012 eaton announced that they had agreed to purchase ireland based cooper industries in a cash and stock deal valued at about 11.46 billion . the new company is called eaton corporation plc and is incorporated in ireland . then eaton chairman and ceo alexander cutler headed the new corporation . cooper shareholders received 39.15 in cash and 0.77479 of a share in the newly created company for each cooper share held . this is worth 72 per share based on eaton s closing share price of 42.40 on may 18 2012 and is 29 % above cooper s closing stock price . 12 eaton corporation plc completed its acquisition of cooper industries on nov 30 2012 . the 13 billion acquisition of cooper usd 5.4 b sales revenue 2011 became the largest in eaton s usd 16b sales revenue 2011 101 year history . 13 brands edit aphel technologies aeroquip airflex arrow hart babco cooper tools arrow hose & tubing argo tech begerow centurion bill golf pride crouse hinds bussmann boston char lynn blinda hydrokraft cutler hammer moeller carter dynapower ceag hydro line eaton detroit differentials pigozzi durant everflex cooper internormen fhf funke huster fernsig pringle fuller evertough elek roadranger hansen and gromelle pulizzi hydrowa phoenixtec halo walterscheid marina power & lighting senyuan martek powerware holec weatherhead mge office protection systems synflex santak tractech mem wright line ronningen petter vickers winner ultronics sel wright austin headquarters edit from 1920s 1964 eaton was based on east 140th street . in 1964 eaton moved its headquarters into the new erieview tower where it remained until 1983 . in that year eaton corporation moved into a 28 story cleveland office tower which was renamed for it . 14 eaton relocated to its new 580 000 square foot facility named eaton center in beachwood ohio in early 2013 . 15 the reincorporation in ireland as part of the cooper merger involved establishing a registered head office in dublin ireland but operational headquarters remain in ohio . environmental record edit eaton was selected in 2008 as a recipient of the calstart blue sky award with recognition for its environmentally green transportation investments products and actions . the award was directed towards the company s efforts to pioneer heavy duty hybrid drive technology for trucks . the annual awards recognize outstanding marketplace contributions to clean air energy efficiency and to the clean transportation industry overall by companies organizations and individuals . 16 operations of eaton involve the use and disposal of certain substances regulated under environmental protection laws . eaton continues to modify certain processes on an ongoing regular basis to reduce the impact on the environment including the reduction or elimination of certain chemicals used in and wastes generated from operations . eaton has set standards for itself in the category of environmental protection vowing to reduce its own greenhouse gas emissions by 18 percent by 2012 . 17 in 2006 eaton joined the green suppliers network a public private partnership with the epa and u.s. department of commerce through which small and medium sized suppliers are helped to develop lean and clean manufacturing processes . 18 eaton s hybrid electric powertrain combines a diesel engine and electric motor to drive the vehicle . 19 in 2013 eaton has been ranked a global leader by carbon disclosure project cdp and was named to the climate disclosure leadership index . eaton s position in the index ranked it first among its global competitors in the industrials sector . 20 corporate recognition and rankings edit recognitions include the following ranked 4 in 100 best corporate citizens of corporate responsibility magazine in 2013 also ranking in top 50 for six consecutive years . 21 named to thomson reuters top 100 innovators list 2011 2012 2013 . 22 ranked among the world s most ethical companies chosen by the ethisphere institute for 2007 2014 23 see also edit cooper industries eagle electric powerware notes edit eaton.com eaton.com 1 http www.eaton.com eaton ourcompany aboutus corporateinformation fastfacts index.htm history timeline . eaton corporation . retrieved 2012 01 15 . dale funk 1 january 2003 . eaton buys delta plc s electrical division based in united kingdom . electrical wholesaling . retrieved 2012 01 15 . cutler hammer in joint venture between eaton caterpillar . the business journal milwaukee . bizjournals.com . 5 august 2003 . retrieved 2012 01 15 . eaton completes purchase of powerware press release . eaton corporation . 9 june 2004 . retrieved 2012 01 15 . eaton announces acquisition of aphel technologies limited press release . eaton corporation . 5 april 2007 . retrieved 2012 01 15 . eaton expands power quality offerings with acquisition of pulizzi engineering press release . eaton corporation . 19 june 2007 . retrieved 2012 01 15 . eaton to acquire mge s small systems business from