Eaton to move European headquarters

Sat May 16, 1998 -

CLEVELAND, OH.... Eaton Corporation announced today that it would move its European headquarters from the London, England, area to Amsterdam in the Netherlands early next year.

Eaton’s new office facilities are under construction in an Amsterdam suburb adjacent to the Schiphol Airport and are expected to be ready for occupancy by next spring, which coincides with the expiration of the company’s lease on the present office building in the London suburb of Hounslow. Employees who will be affected by the move have been notified.

"By moving onto the European continent and to a major city like Amsterdam, we will be much closer to the majority of our customers," said Stephen R. Hardis, Eaton’s chairman and chief executive officer. "The availability of a diverse workforce with multilingual skills was another major factor in our decision," he said. "Many multinational companies are headquartered in Amsterdam, and the Netherlands is a strong and proactive supporter of the European Community."

Of the 65 employees at Hounslow, 24 have been offered positions at the Amsterdam location. Nine other employees will be moving to other Eaton facilities in the U.K and 32 employees will be receiving severance packages upon termination of employment.

Closing of the Hounslow site will not affect Eaton’s other U.K. facilities. Eaton has manufacturing and sales offices in Manchester, Gloucester, Aycliffe, Bedford, Ottery St. Mary, Melton Constable, Plymouth, Bristol, Peterborough and Tipton, all in England, and in Glenrothes, Scotland. In addition, Eaton has a Shared Services Center in Glasgow, Scotland, which handles European financial transactions. These 11 facilities employ approximately 1,650.

Eaton Corporation is a global manufacturer of highly engineered products that serve industrial, vehicle, construction, commercial and semiconductor markets. Principal products include electrical power distribution and control equipment, truck drivetrain systems, engine components, hydraulic products, ion implanters and a wide variety of controls. Headquartered in Cleveland, the company has 49,000 employees and 143 manufacturing sites in 26 countries around the world. Sales for 1997 were $7.6 billion.



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Renald Romain