Eaton Wins $160 Million Automotive Contract for Memory Glass and Power-Folding Mirror Actuators

    CLEVELAND--Jan. 21, 2002--Diversified industrial manufacturer Eaton Corporation today said its Automotive business unit has received a contract from General Motors Corporation's Tier One mirror suppliers to provide memory glass and power-folding mirror actuators for a wide range of pick-up trucks and sport utility vehicles (SUVs), beginning in 2002. The GMT800 Mid-Cycle Enhancement (MCE) agreements have a revenue value of $160 million for the full life of the contract.
    The GMT800 encompasses General Motors' largest Truck/SUV program, including the Escalade, Yukon, Tahoe, Suburban, Sierra and Silverado vehicles. Eaton's Mirror Controls Division has been the longest standing supplier of mirror actuator devices to the GMT800 platform.
    Stephen M. Buente, Senior Vice President and Group Executive-Automotive, said, "Eaton's development of advanced memory controls and power-folding actuation for mirror glass afforded us the opportunity to meet the customer's rigorous requirements. The award for the 2003 MCE is a further testimony of Eaton's ability to deliver reliable quality mirror actuation products. This program is the result of a combined effort between Eaton and GM's Tier One mirror suppliers to develop a power-fold feature that outperforms current lifecycle requirements. We believe we have the technological innovations and related customer services to fully support the industry by bringing to market solutions that enhance the safety, security, and environmental integrity of today's light trucks and SUVs."
    Buente added that Eaton is increasingly focusing its automotive resources on safety, security and environmental impact. Other examples include advanced gasoline vapor controls, common rail Diesel fuel controls, power on demand variable valve actuation, and E-LOCKER(TM) electronic locking differentials.
    Eaton Corporation is a global $8 billion diversified industrial manufacturer that is a leader in fluid power systems; electrical power quality, distribution and control; automotive engine air management and fuel economy; and intelligent truck systems for fuel economy and safety. Eaton has 49,000 employees and sells products in more than 50 countries. For more information, visit www.eaton.com.