Eaton hopes to triple sales by 2015 in India

Eaton Technologies Pvt Ltd, the Indian arm of the US $ 13.7 billion Eaton Corporation has announced a sales goal of $ 500 million (approximately Rs 2500 crore) in India by the end of 2015, which would triple its current revenue in the country. Eaton in India is into electrical, hydraulics, truck and automotive businesses. Globally, the electrical sector contributed $ 6.4 billion towards Eaton overall sales, while $ 7.3 billion came from the industrial sector comprising aerospace, hydraulics and vehicles. In the last 10 years Eaton Corporation has made 51 acquisitions all over the world, most of it outside the US. “India will be an important part of our goal of generating 30 per cent of our sales from emerging markets,” said Alexander M Cutler, Chairman of Eaton Corporation in New Delhi. Cutler was in the capital to inaugurate a Technology Day show. This show is part of an strategic initiative --- a series of events--- to reach out to the customers and end-users, and enable effective market interactions at major regions and key customer locations. The event also displayed a CNG hybrid bus, the first mass transport pilot hybrid vehicle powered by Eaton’s technology. Cutler mentioned that his company was excited about participating in the development of India’s infrastructure and in its manufacturing, transportation and power industries. The company has four manufacturing locations in India. He said that the company will be entering the power distribution market in India by the end of 2011 and will establish sales, marketing, application engineering, local manufacturing and assembly capabilities. Eaton’s Integrated Research and Development Centre in Kharadi, Pune will be adding 200 employees to its engineering and other professional services work. The company began operations in India in 1999 through the global acquisitions of Aeroquip Vickers. In India, Eaton’s truck business sells transmissions to Tata, M&M Navistar and AMW. On the electrical side it has done infrastructure projects in India, besides extensive work at the T3 airport in New Delhi. Cutler further noted that he was hopeful of getting business in the Indian aerospace segment for both commercial as well as military applications. ‘We are on the lookout for acquisitions in the hydraulic, electrical and aerospace sectors,” he affirmed.