Eaton to Acquire Boston Weatherhead Business From Dana

    CLEVELAND--Oct. 1, 2002--Diversified industrial manufacturer Eaton Corporation today announced it has signed an agreement to purchase substantially all of the assets of the Boston Weatherhead division of Dana Corporation. The transaction is expected to be completed during the fourth quarter, following customary regulatory review. The financial terms of the agreement were not disclosed.
    Boston Weatherhead manufactures hose, tubing, and fluid connectors for fluid power systems primarily for industrial distribution, mobile off-highway and heavy duty truck markets. In 2001, the Boston Weatherhead division had sales of $207 million and, at year-end, 1,049 employees.
    The acquisition supports Eaton's strategy to be a full-capability provider to the fluid power industry. According to Craig Arnold, senior vice president and group executive, "Boston Weatherhead is recognized across the industry as a quality supplier of fluid conveyance products. Their strong brand names, channel relationships, and complementary products will allow Eaton to become a more significant partner for all of our existing and new customers."
    Eaton Corporation is a global $7.3 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 48,000 employees and sells products in more than 50 countries. For more information, visit www.eaton.com.