Eaton Corp., Cleveland, has made some interesting moves over the past month, with an acquisition to support its Moeller brand, a plant expansion to make DC quick-chargers for electric vehicles, and an earnings report that caught the attention of Wall Street.
Eaton agreed to acquire CopperLogic, Inc., a company formed in 2004 from Moeller's original U.S. and Canadian sales organizations. The company has continued as the exclusive North American representative of Moeller industrial control products and has expanded to make its own electrical and electromechanical systems as well.
Eaton bought Germany's Moeller Group for $2.2 billion in 2008. In a press statement, Jerry Whitaker, president — Americas Region, Electrical Sector, said the acquisition of CopperLogic will also bring a portfolio of IEC, CSA and UL assemblies to Eaton. CopperLogic has a U.S. office in Houston and a Canadian office in Mississauga, Ontario. Terms of the acquisition were not disclosed.
Eaton also announced the decision to expand its Wilsonville, Ore., satellite power center as a lead facility to modify and integrate its electric vehicle (EV) DC quick charger for the North American market. The charging stations, expected to launch later this year, are part of Eaton's range of products and services that will provide critical infrastructure for the EV corridors and across North America. Eaton's quick charger can recharge an electric vehicle to 80 percent of battery capacity in 15-30 minutes. This type of recharge capability addresses the range anxiety anticipated by EV drivers and is expected to significantly aid vehicle adoption, utility and utilization, the company said.
Finally, Eaton reported a 3Q sales increase of 18 percent. Sandy Cutler, CEO, said several segments of the company's Electrical Business unit were particularly solid. “We saw good growth during the quarter in our early- and mid-cycle markets, particularly in power quality and industrial markets,” he said.