Eaton Buys Aerospace Product Line and Machinery of Mechanical Products Inc.

    CLEVELAND--Nov. 1, 2002--Diversified industrial manufacturer Eaton Corporation today announced it has purchased the product lines and machinery, as well as the intellectual property and tooling, of the Aerospace Division of Mechanical Products Inc. The financial terms were not disclosed.
    Mechanical Products Inc., based in Jackson, Michigan, is a leading manufacturer of thermally actuated circuit control and protection devices for commercial and aerospace markets. Aerospace applications include military, regional jet, business jet and commercial aircraft customers. The Aerospace Division of Mechanical Products had 2001 sales of $12 million.
    "This acquisition strengthens Eaton's ability to integrate aerospace electrical power distribution components and subsystems," said Steven Eisenberg, vice president of Aerospace operations in Eaton's Fluid Power business. "It will also enhance our ability to bring Eaton's proprietary arc fault circuit interrupter (AFCI) technology to the aerospace markets."
    Eisenberg said that Mechanical Products is recognized as a leader in the circuit protection business and its products have a strong aerospace record of reliability and performance. "This purchase expands and strengthens Eaton's aerospace power and load management business," he added.
    The product lines and machinery from the Aerospace Division of Mechanical Products will be located within Eaton's Sarasota, Florida, plant. This will allow for the consolidation of manufacturing, engineering and business processes.

    Eaton 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.