Intelligent power management company Eaton (NYSE:ETN) announced additional manufacturing investments of $85 million to meet surging utility demand for its solutions supporting essential electric grid infrastructure projects on Friday. Eaton will increase manufacturing capacity in Queretaro, Mexico, for line installation and protective equipment vital to undergrounding power lines and bolstering energy resilience.
This latest Eaton manufacturing investment for utility customers brings the company’s recent investments in North America to nearly $750 million. Eaton is already increasing supplies of transformers and voltage regulators as well as electrical assemblies: switchgear, switchboards and circuit breakers.
“Unprecedented changes are reshaping the energy industry - from electrification to the energy transition, digitalization and infrastructure projects. We have the industry’s broadest portfolio of utility solutions, and we work with most of the utilities in North America,” said Mike Yelton, president, Americas Region, Electrical Sector at Eaton. “Our solutions are essential to modernize and decarbonize distribution systems, and we’re making steady investments to address growth and bolster our manufacturing capacity.”
To increase supplies of its critical underground protective connectors, Eaton is creating approximately 300 new positions, expanding its manufacturing facility in Queretaro, as well as adding new injection presses and manufacturing equipment.
Earlier this year, Eaton announced plans to increase U.S. manufacturing of other essential solutions for utility customers. The company is doubling production capacity of its voltage regulators in Nacogdoches, Texas. Eaton is also investing in equipment to increase its manufacturing capacity for three-phase transformers in Waukesha, Wisconsin. In addition, Eaton has expanded manufacturing in Colorado of its solid dielectric switchgear, which provides utilities with environmentally friendly and robust protection for undergrounding distribution lines.
Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.
Founded in 1911, Eaton is marking its 100th anniversary of being listed on the New York Stock Exchange. We reported revenues of $20.8 billion in 2022 and serve customers in more than 170 countries.