CLEVELAND, OH...Eaton Corporation today announced that it has completed the merger of its wholly owned subsidiary, Eaton Acquisition Corporation, with CAPCO Automotive Products Corporation. The merger follows the completion on Monday, April 15, 1996, of the tender offer for all of CAPCO's outstanding shares of common stock and associated preferred stock purchase rights. In the merger, shares of common stock of CAPCO that were not tendered in the offer were automatically converted into the right to receive $12.50 per share in cash. As a result of the merger, CAPCO is now a wholly owned subsidiary of Eaton.

Eaton's tender offer and the merger were consummated pursuant to a merger agreement among Eaton, Eaton Acquisition Corporation and CAPCO.

Eaton Corporation is a global manufacturer of highly engineered products which serve vehicle, industrial, construction, commercial and aerospace markets. Principal products include truck transmissions and axles, engine components, hydraulic products, electrical power distribution and control equipment, ion implanters and a wide variety of controls.

Headquartered in Cleveland, the company has 54,000 employees and 150 manufacturing sites in 23 countries around the world. Sales for 1995 were $6.8 billion.