An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Eaton Investing $85 Million to Increase North American Manufacturing of Essential Utility Solutions Advancing the Energy Transition and Electrification
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Eaton invests $85 million in North American manufacturing to meet surging utility demand for its solutions supporting essential electric grid infrastructure projects. The company's recent investments in the region reach nearly $750 million. Eaton is increasing supplies of transformers, regulators, switchgear, and other utility equipment to modernize and decarbonize distribution systems.
Positive
Eaton invests $85 million in manufacturing facilities to meet utility demand
Recent investments in North America reach nearly $750 million
Increasing supplies of transformers, regulators, switchgear, and other utility equipment
Negative
None.
Underground protective connectors supply to increase by 50%
Investments in regional manufacturing increase supplies of transformers, regulators, switchgear and other utility equipment
Eaton recent investments in manufacturing facilities for its customers in North America reach almost $750 million
CLEVELAND--(BUSINESS WIRE)--
Intelligent power management company Eaton (NYSE:ETN) today announced additional manufacturing investments of $85 million to meet surging utility demand for its solutions supporting essential electric grid infrastructure projects. Eaton will increase manufacturing capacity in Queretaro, Mexico, for line installation and protective equipment vital to undergrounding power lines and bolstering energy resilience.
Eaton invests additional $85 million for North American manufacturing of essential utility solutions. (Photo: Business Wire)
“Unprecedented changes are reshaping the energy industry - from electrification to the energy transition, digitalization and infrastructure projects. We have the industry’s broadest portfolio of utility solutions, and we work with most of the utilities in North America,” said Mike Yelton, president, Americas Region, Electrical Sector at Eaton. “Our solutions are essential to modernize and decarbonize distribution systems, and we’re making steady investments to address growth and bolster our manufacturing capacity.”
To increase supplies of its critical underground protective connectors, Eaton is creating approximately 300 new positions, expanding its manufacturing facility in Queretaro, as well as adding new injection presses and manufacturing equipment.
Earlier this year, Eaton announced plans to increase U.S. manufacturing of other essential solutions for utility customers. The company is doubling production capacity of its voltage regulators in Nacogdoches, Texas. Eaton is also investing in equipment to increase its manufacturing capacity for three-phase transformers in Waukesha, Wisconsin. In addition, Eaton has expanded manufacturing in Colorado of its solid dielectric switchgear, which provides utilities with environmentally friendly and robust protection for undergrounding distribution lines.
Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.
Founded in 1911, Eaton is marking its 100th anniversary of being listed on the New York Stock Exchange. We reported revenues of $20.8 billion in 2022 and serve customers in more than 170 countries. For more information, visit Eaton.com. Follow us on LinkedIn.
Eaton is investing $85 million in manufacturing facilities to meet surging utility demand for its solutions supporting essential electric grid infrastructure projects.
How much have Eaton's recent investments in North America reached?
Eaton's recent investments in North America reach nearly $750 million.
What supplies is Eaton increasing?
Eaton is increasing supplies of transformers, regulators, switchgear, and other utility equipment to modernize and decarbonize distribution systems.
