History
In 1911, Joseph O. Eaton, brother-in-law Henning O. Taube and Viggo V. Torbensen incorporated the Torbensen Gear and Axle Co. in Bloomfield, New Jersey. With financial backing from Torbensen's mother, the company was set to manufacture Torbensen's patented internal-gear truck axle. In 1914, the company moved to Cleveland, Ohio, to be closer to its core business, the automotive industry.
The Torbensen Axle Company was incorporated in Ohio in 1916, succeeding the New Jersey corporation. A year later, Republic Motor Truck Company, Torbensen's largest customer, bought out the company. But Eaton and Torbensen were not content and bowed out of Republic to form the Eaton Axle Company in 1919. A year later, in 1920, Eaton Axle Company merged with Standard Parts. Standard Parts went in receivership later the same year and was later liquidated. In 1923, Eaton bought the Torbensen Axle Co. back from Republic and changed the name to the Eaton Axle and Spring Company.
Eaton officers believed the quickest way to grow the business was through acquisitions and began buying companies in the automotive industry, By 1932, the diversified company changed its name to Eaton Manufacturing Company. In 1937, Eaton became international by opening a manufacturing plant in Canada. The company name changed once again in 1965 to Eaton Yale & Towne, Inc. after the acquisition of Yale & Towne Manufacturing Co. in 1963. Stockholders approved the change to the company's current name in 1971. Eaton Corp. continues its founder's "philosophy" of growth through acquisition along with divesting businesses that no longer fit the corporate vision. In 1978, Eaton Corporation acquired Samuel Moore & Company, Kenway Systems and Cutler-Hammer.
Eaton Corporation is based in the Eaton Center, its 28-story office tower in downtown Cleveland. From 1920s-1964 Eaton was based on East 140th Street. In 1964, Eaton moved its headquarters into the new Erieview Tower where it remained until 1983. In that year, Eaton Corporation moved into another Cleveland tower which was renamed for it. Construction of a new facility in Beachwood, Ohio is currently underway, with projected completion scheduled for late 2012.
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