Eaton Aerospace history

In 1911, automobile and truck use was starting to become widespread, and the world was on the brink of its First World War.

When Yale died in 1913 at the age of 47, Henry Towne took over the company and served as its leader for the next 50 years.

By 1916, the company produced more than 10,000 axles – many of which were installed on the United States Military trucks shipped to Japan during World War I.

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.

In 1918, Torbensen Axle became a subsidiary of the Republic Motor Truck Co., then the largest truck manufacturer in the United States and Torbensen's biggest customer.

In 1919, Joseph Eaton left Republic to form the Eaton Axle Co., which soon became a leading firm in the field.

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.

In 1923, Eaton took the company public to raise money to acquire other growing companies – a key to his growth strategy.

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. Engineering.

After Joseph Eaton died in 1949, the company continued on its path of diversification through a continuing series of acquisitions.

In 1953 Livia, a small Italian manufacturer of engine valves, acquired technological assistance and a production license from Eaton.

Diversification Through Acquisition: 1958-73

Livia was purchased by Eaton in 1961.

In 1966, the company changed its name to Eaton, Yale, & Towne, Inc.

When Virden retired in 1969, E. Mandell de Windt, who had joined the company as a production clerk, was elected chairperson.

The forestry equipment and lift-truck businesses were written off and sold in 1982 for $200 million.

Stephen R. Hardis, vice-chairman and CFO since 1986, was named CEO and chairman.

In 1987, Eaton was named to the Fortune 100 for the first time.

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.

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.

Then in 1994, Eaton acquired Westinghouse Electric’s distribution and control business unit for $1.1 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.

Late in 1997, for example, its appliance controls business was sold to Siebe plc for $310 million.

The deal made Eaton the number two player in the hydraulic equipment market, trailing only Parker Hannifin Corporation. Its revenues for 1998 were $2.15 billion.

In 1999, Eaton purchased Aeroquip-Vickers for $1.7 billion, the company's largest acquisition to date.

In November 2002 the company bought the Boston Weatherhead division of Dana Corp. for $130 million.

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.

In June 2004 Eaton acquired Powerware Corporation, the power systems business of Invensys plc, for $560 million.

With the acquisition of Hayward Filtration in 2005 (a division of Hayward Industries), Eaton cemented itself in the industrial liquid filtration market.

In 2011, Eaton celebrated its 100th anniversary and a heritage of innovation and expertise that has positioned the company to answer some of the world’s toughest power management challenges.

The company was founded on May 10, 2012 and is headquartered in Dublin, Ireland.“