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MarketScreener Homepage  >  Equities  >  Nyse  >  Eaton Corporation plc    ETN   IE00B8KQN827

EATON CORPORATION PLC

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Eaton : Vehicle Group expands its remanufacturing program to include electric clutch actuators to reduce environmental impact of new production

09/24/2020 | 03:15pm EST

GALESBURG, Mich. … Power management company Eaton today announced its Vehicle Group is expanding its remanufacturing program to offer remanufacturing of electronic clutch actuators used on Eaton UltraShift® PLUS transmissions. Eaton remanufactures thousands of transmissions and clutches annually to maximize the reuse of materials, keep them out of landfills, save energy, and reduce emissions and waste.

Eaton's remanufacturing business recovers core product components from customers across North America and returns them to 'like new' performance. Using improved cleaning processes and advanced inspection techniques to validate weld integrity, components in good working condition are reused whenever possible.

'Remanufactured products provide customers with a cost-effective solution while offering a sustainability advantage,' said Tim Bauer, vice president, Aftermarket, Eaton's Vehicle Group. 'In addition, remanufacturing options carry market competitive warranties, providing additional peace of mind for fleet operators of all sizes.'

By expanding its remanufacturing business and remanufactured product portfolio, Eaton strives to minimize the environmental impacts from manufacturing new parts. The remanufacturing strategy aligns with Eaton's recent announcement to join the global movement to limit the increase of the world's temperature to 1.5 degrees Celsius by committing to science-based targets. In support of this effort, Eaton has a target to have remanufactured products account for up to 80 percent of its aftermarket transmissions by 2023.

All factory remanufactured products are backed by Eaton's Roadranger sales and service network, the nation's leading support system for drivetrain components, which provides unequaled protection, support, and training from experienced professionals.

A nationwide network of authorized rebuilders

In addition to its efforts to service the market with factory remanufactured transmission products, Eaton has established a network of authorized rebuilders across North America. The authorized rebuilders have specific training, parts, testing, and validation requirements designed to provide consistent quality of remanufacturing transmissions to fleet operators.

Authorized rebuilders are regionally located across North America to provide a broad coverage of products to maximize fleet uptime. These authorized rebuilders have similar part reuse criteria and provide the same environmental benefit as buying a factory remanufactured transmission. Eaton's authorized rebuilder remanufacturing programs are designed to have an inventory of remanufactured products strategically stocked throughout North America to maximize vehicle up-time.

'Our remanufacturing strategy will continue to evolve to ensure we minimize our environmental footprint on the environment long-term, and we've already identified additional electronics products to be launched through the remainder of 2020 and 2021,' said Bauer.

Eaton's mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power - more safely, more efficiently, and more reliably. Eaton's 2019 revenues were $21.4 billion, and we sell products to customers in more than 175 countries. We have approximately 93,000 employees. For more information, visit www.eaton.com.

Disclaimer

Eaton Corporation plc published this content on 15 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2020 19:14:06 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 17 761 M - -
Net income 2020 1 416 M - -
Net Debt 2020 7 400 M - -
P/E ratio 2020 34,9x
Yield 2020 2,43%
Capitalization 48 140 M 48 140 M -
EV / Sales 2020 3,13x
EV / Sales 2021 3,00x
Nbr of Employees 92 000
Free-Float 99,8%
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Number of Analysts 23
Average target price 116,55 $
Last Close Price 120,26 $
Spread / Highest target 12,3%
Spread / Average Target -3,08%
Spread / Lowest Target -15,2%
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NameTitle
Craig Arnold Chairman & Chief Executive Officer
Richard H. Fearon Vice Chairman, Chief Financial & Planning Officer
William W. Blausey Chief Information Officer & Senior Vice President
Ramanath Ramakrishnan Chief Technology Officer & Executive VP
Gerald Bernard Smith Independent Director
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