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July 11, 2008
CLEVELAND … Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) has been selected by Cessna Aircraft Company, a Textron (NYSE:TXT) company, as the fuel systems supplier for the new, large cabin, intercontinental Model 850 Citation Columbus business jet. The value of the program to Eaton is estimated at approximately $100 million over 20 years. According to Cessna, the first flight is scheduled for 2011.
As the system integrator, Eaton will design, develop and manufacture the complete aircraft fuel system including the electric fuel boost pumps, ejector pumps, flow control valves for fuel transfer, the refuel/defuel sub-system and the fuel quantity measurement system.
According to Bradley J. Morton, president - Eaton’s Aerospace Business, “This award strengthens our relationship with Cessna Aircraft and represents a new market segment win for our fuel systems business. It also demonstrates the synergy and strengths of the legacy Argo-Tech and Cobham Fuel and Air Division acquisitions made in the last 28 months by Eaton.”
In the aerospace industry, Eaton is a leading supplier of hydraulic, electro-hydraulic pump and generator products and integrated systems; engine and airframe fuel pumps: electric motors; aircraft door actuation, flight and flow control; fluid, fuel and air delivery products and systems; nose wheel steering systems; integrated control systems; cockpit controls and
displays; power and load management systems; pressure sensors, seals and fluid health monitoring products and systems. Eaton serves commercial and military aviation, aerospace, military weapons, marine and off-road markets worldwide.
Eaton Corporation is a diversified power management company with 2007 sales of $13 billion. Eaton is a global technology leader in electrical systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has 81,000 employees and sells products to customers in more than 150 countries. For more information, visit www.eaton.com.
This news release contains a forward-looking statement concerning the revenue value of the contract for the Cessna Model 850 Citation Columbus business jet. This statement should be used with caution because it is subject to various risks and uncertainties, some of which are outside the control of the company. Important factors that could cause actual results to differ materially from those indicated by the forward-looking statement include future funding for the Model 850 Citation Columbus business jet program and unexpected technical difficulties. We do not assume any obligation to update this forward-looking statement.