Eaton announces new business ventures in China and Poland
CLEVELAND, OH.... EatonCorporation today announced two new business ventures, one in China and the other in Poland, that continue the company's expansion into global markets.
In China, Eaton has signed a joint venture agreement with Weihei Measuring Tools Factory to manufacture washing machine controls for the Chinese market. In Poland, the company has established a manufacturing plant in the town of Bielsko Biala, near Krakow, to begin supplying Fiat and other East European customers with automotive engine valves later this year.
The joint venture agreement with Weihei calls for the manufacture of washing machine program timers, water valves and control switches for the Chinese domestic market at an existing facility in the city of Weihei, located in Shandong Province. Eaton said it expects sales from the venture to reach $10 million by the year 2000, and that the agreement provides the basis for development of additional appliance controls business in the future.
By establishing the joint venture, Eaton becomes the first Western manufacturer of appliance program timers in China. Eaton's Appliance Control Operations is a worldwide leader in the manufacture and sale of a wide range of timers, switches, water valves, thermostats and various range controls for the world's largest appliance makers.
The decision to produce engine valves in Poland is based, in part, on the growing importance of East European automotive manufacturing. Eaton said it will invest $5 million in the facility, and expects to employ 150 people when the plant becomes fully operational. The company said it expects sales from the plant to exceed $20 million by 2000.
Eaton's Engine Component Operations and associated companies, which operate 20 facilities in 11 countries, manufactured more than 400 million engine valves and valve lifters in 1996. Eaton is the world's largest producer of the combination of valves and valve lifters, along with engine superchargers.
Today's announcement supports Eaton's previously announced growth initiative that includes reaching $10 billion in sales by the year 2000 through global expansion, new product development and acquisitions.
Eaton Corporation is a global manufacturer of highly engineered products which serve industrial, vehicle, construction, commercial and aerospace markets. Principal products include electrical power distribution and control equipment, truck transmissions and axles, engine components, hydraulic products, ion implanters and a wide variety of controls. Headquartered in Cleveland, the company has 54,000 employees and 155 manufacturing sites in 26 countries around the world. Sales for 1996 were $7 billion.