Eaton Announces Doubler Sales of 2 Billion Targets in China in 2015

Eaton Corporation, a diversified industrial product manufacturer , announced its strategic development plan for the next five years in China on August 11, 2011. The company plans to achieve a sales target of US$2 billion in the Chinese market by 2015, which will be twice the sales of Eaton in China in 2010.

Alexander M. Cutler, Eaton’s chairman and chief executive officer, said at the media meeting in China that “China is critical to Eaton’s development. As a power management company, Eaton is happy to be here. The dynamic market is involved in the construction of numerous infrastructure projects, and we look forward to all of our businesses—electricity, hydraulics, vehicles, and aerospace—to achieve even greater growth in the future.”

Ke Renjie, Chairman and CEO of Eaton, spoke at the media conference

Ke Renjie described the blueprint for Eaton’s business development in China. He is confident about the growth of China’s economy and emphasizes that building energy-efficient infrastructure will bring more business opportunities to Eaton. 2011 is the starting year for China’s “Twelfth Five-Year Plan”. Energy conservation and environmental protection, industrial upgrading and innovation are listed as an important part of the six strategic pillars, which are also closely related to Eaton’s business scope.

Eaton leaders meet at the media conference

Ke Renjie added: “Helping our customers to manage their power effectively is a clear goal of Eaton’s development in China. By providing our customers with innovative and sustainable solutions, we have sufficient capabilities to respond to China’s strategic development plans. And we will seek opportunities to expand our local business and make greater contributions to China's economic development."

Eaton CEO and CEO Ke Renjie speaks at the completion of the new building of Eaton’s Asia Pacific headquarters

Ke Renjie mentioned that Eaton achieved the following important business progress in the Chinese market in 2011:

• On June 28, Eaton Shangfei (Shanghai) Aviation Pipeline Manufacturing Co., Ltd., jointly owned by Eaton and Shanghai Aircraft Manufacturing Co., Ltd., a subsidiary of COMAC, was officially unveiled. The joint venture company signed a contract in July 2010 and is the first joint venture between COMAC and foreign companies. In March this year, it took the lead in obtaining the approval of the industrial and commercial registration. It is the first joint venture company established by a number of joint venture companies established for domestic large aircraft projects.

? Eaton Vehicle Group invested in a new engine valve production plant in Jining, Shandong Province, which will be put into production in September 2011, and will assemble engine valves for Chinese automotive customers. Eaton will leverage its premier engine valve manufacturing experience to serve the Chinese market.

Eaton Electric provides China Unicom, one of the largest telecom providers in China, with hundreds of Eaton 9395 uninterruptible power supplies (UPS). These devices will be used in the China Unicom Beijing Data Center, one of the largest data centers in North China.

Eaton once again won the order of Xugong, the largest manufacturer of construction machinery in China, to provide hydraulic pumps and motors for its new generation of compactors. At the same time, Eaton's progressive limited slip differential was successfully applied to XGMA's five-ton wheel loader. XGMA became the world's first loader manufacturer to use Eaton as an efficient differential technology.

In addition, Eaton also announced today that it has successfully won the bid for the Beijing Metro Line 6 project to provide medium-voltage electrical equipment for the longest subway line in Beijing. At the same time, Eaton has also provided safe, reliable and efficient power distribution control solutions for subway lines in cities such as Guangzhou, Hangzhou and Ningbo.

As the business continues to grow, Eaton has also increased its investment to meet more growth needs. The company purchased a new office building for its Asia Pacific headquarters in Shanghai. Ke Renjie attended and hosted the opening ceremony of the new building that afternoon. The new building covers an area of ​​about 6,000 square meters, can accommodate more than 200 employees, and continues the main building of energy-saving environmental protection design and decoration standards. The new building will also serve as the training center for Eaton University in China to strengthen the company’s commitment to employee development. Eaton relocated its Asia Pacific regional headquarters from Hong Kong to Shanghai in 2004 and launched its new green headquarters building in 2009. The building was awarded the LEED Leader of Energy and Environment Design by the US Green Building Council in 2010. Gold certification is one of the largest LEED-certified business interior design projects in China to date.

Ke Renjie said: “We are very pleased to be able to further expand in China as we celebrate the 100th anniversary of the establishment of the company. The opening of the new building marks a positive step for us to achieve our regional goals. We will continue to serve our employees and communities as always. Make a contribution."

Eaton entered the Chinese market in 1993 and set up its first joint venture in Jining, Shandong. Since then, it has rapidly developed its business in China through mergers, acquisitions, joint ventures, and wholly-owned operations. Eaton currently has more than 10,000 employees, four R&D centers and 27 factories in China, including 18 major manufacturing facilities.

Founded in 1911, Eaton has grown into a diversified global power management company that helps customers use power more efficiently and safely. In 2010, company sales reached 13.7 billion US dollars. Eaton is a global leader in many industries, including power quality, transmission and distribution and control systems; hydraulic power components, systems and services required for industrial equipment and mobile construction machinery; and fuel for commercial and military aerospace applications. Hydraulic and pneumatic systems; and power and transmission systems that help trucks and cars improve performance, fuel economy and safety. Eaton has approximately 73,000 employees and its products are sold in more than 150 countries and regions. For further information please visit the company website.

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