Eaton Corporation is a multinational power management company based in Dublin, Ireland, with headquarters in Cleveland, Ohio, USA. The company was founded in 1911 by Joseph Eaton and Viggo Torbensen in New Jersey, USA, as the Torbensen Gear and Axle Company. Eaton Corporation provides energy-efficient solutions that help its customers manage electrical, hydraulic, and mechanical power more safely, efficiently, and sustainably. The company operates in two segments: Electrical Products and Electrical Systems and Services. The Electrical Products segment includes electrical components such as circuit breakers, lighting, and wiring devices. The Electrical Systems and Services segment provides electrical power distribution, automation and control, and other services to industrial, commercial, and utility customers.
Eaton Corporation's products and services are used in various industries such as aerospace, automotive, data centers, healthcare, mining, oil and gas, and renewable energy. The company is committed to sustainability and has set a goal to reduce its greenhouse gas emissions by 50% by 2030. Eaton Corporation has also received several awards for its sustainability efforts, including the U.S. Department of Energy's Better Buildings, Better Plants Program award for reducing energy intensity by 22% since 2012.
In addition to its commitment to sustainability, Eaton Corporation has a strong focus on innovation. The company invests heavily in research and development, with over 6,000 engineers and scientists working on new technologies and products. Eaton Corporation has also made several acquisitions in recent years to expand its product portfolio and capabilities, including the acquisition of Cooper Industries in 2012 and the acquisition of Tripp Lite in 2021.
Eaton Corporation has a global presence with operations in more than 175 countries and employs approximately 92,000 people worldwide. The company has a strong financial performance, with reported revenue of $17.9 billion in 2020. Eaton Corporation is also committed to corporate social responsibility, and its initiatives include supporting education, promoting diversity and inclusion, and giving back to the communities in which it operates through its charitable foundation, the Eaton Charitable Fund.