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Eaton Corporation : Eaton Becomes a Founding Member of Purdue’s Center for Technology Development in Support of University-Led Research and Innovation

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04/30/2012 | 05:54pm CET

Eaton Becomes a Founding Member of Purdue's Center for Technology Development in Support of University-Led Research and Innovation

CLEVELAND … Diversified industrial manufacturer Eaton Corporation Eaton has entered into a creative new relationship with Purdue University as a founding member of the Center for Technology Development.  The membership reflects Eaton's recognition that many of the world's most advanced industrial research and development projects are taking place in university classrooms and laboratories.

Eaton was one of three companies that signed a charter to officially launch the Center for Technology Development at Purdue University on Jan. 11, 2012. Each founding member will contribute $50,000 a year for the next three years to help start the center, which provides members with a diversified set of resources to carry out research and development, direct problem-solving and feasibility studies for future products.

"Eaton is a premier power-management company, and innovative technologies are clearly critical to our growth strategies," said Andy Weeks, vice president and general manager of Eaton's conveyance systems division. "As a world-renowned research institution, Purdue University has the resources required to explore new technologies with Eaton that can benefit customers across all of our business sectors."

Headquartered in Purdue's College of Technology, the Center for Technology Development is designed to produce measurable results to reward industry investments and build long-term relationships with members. Eaton and other members collaborate with Purdue faculty and staff and have access to Purdue labs and centers.

In addition to encouraging technological innovations, Eaton views the new relationship as a valuable tool for recruiting talent and providing hands-on, developmental experiences for employees who participate with student teams.

"Eaton sees great potential in developing people and building our knowledge and skills base through collaborative projects," said Brad Morton, president of Eaton's Aerospace Group and a Purdue mechanical engineering technology graduate. "It will enable participants to connect innovation to practical applications in our industry and see the direct results of their research, experiments and teamwork."

Eaton is actively involved on the center's industry steering committee to provide guidance on project selection, technical issues, funding strategies and identifying future members. At the working level, Eaton provides points of contact for center projects to help guide research teams, address technical obstacles and track project progress.

The Center for Technology Development's core faculty has a range of expertise and can assist with a variety of tasks, from design work to analysis and from testing to reverse engineering. They also are able to address common industry needs such as data acquisition, design innovation and system integration. The collaboration and benefits are expected to evolve as member industries discover new opportunities.

"We are very excited to launch the Center for Technology Development, as it aligns well with our strategic initiative to engage in applied research with business and industry," said Gary Bertoline, dean of the College of Technology. "We are very pleased to be partnering with companies who are leaders in their respective markets, and we thank them for helping make this center a reality by becoming founding members."

In the aerospace industry, Eaton is a leading supplier of hydraulic, electro-hydraulic pump and generator products and integrated systems; engine and airframe fuel pumps; electric motors; aircraft door actuation, flight and flow controls; fluid, fuel and air delivery products and systems; nose wheel steering systems; integrated control systems; cockpit controls and displays; power and load management systems; pressure sensors, seals, and fluid health monitoring products and systems. Eaton serves commercial and military aviation, aerospace, military weapons, marine and off-road markets worldwide.

Eaton Corporation is a diversified power management company with more than 100 years of experience providing energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power. With 2011 sales of $16.0 billion, Eaton is a global technology leader in electrical components, systems and services for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulic and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has approximately 72,000 employees and sells products to customers in more than 150 countries. www.eaton.com.


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Financials ($)
Sales 2016 19 802 M
EBIT 2016 2 491 M
Net income 2016 1 925 M
Debt 2016 7 626 M
Yield 2016 3,16%
P/E ratio 2016 16,08
P/E ratio 2017 15,37
EV / Sales 2016 1,93x
EV / Sales 2017 1,94x
Capitalization 30 607 M
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Mean consensus HOLD
Number of Analysts 27
Average target price 67,0 $
Spread / Average Target -1,2%
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NameTitle
Craig Arnold Chairman & Chief Executive Officer
Richard H. Fearon Vice Chairman, Chief Financial & Planning Officer
William W. Blausey Chief Information Officer & Senior Vice President
Ramanath Ramakrishnan Chief Technology Officer & Executive VP
Linda A. Hill Independent Director
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