COLORADO SPRINGS, Colo.—Eaton Corp., like many industrial companies, has had to deal with a variety of difficult markets, but the firm is taking actions to help focus it for long-term success.
“Your focus is really the key. For us, it's been really taking a hard look at ourselves,” said Ryan Williams, vice president of fluid conveyance products with Eaton's Hydraulics Group. He talked about the company during the recent NAHAD Annual Convention in Colorado Springs, Colo.
Sectors that Eaton supplies that have hit hard times recently, he said, include oil and gas, large agriculture, and construction, along with a softening of business conditions in China. Some that have been brighter spots in the past year are commercial vehicles and Class A heavy duty trucks and buses.
“It's been a challenging global economy,” Williams said. “We've had a number of key markets that have been soft. As with many companies, we're working hard to re-position ourselves for long-term success.”
Because of these tough conditions, Eaton's hydraulics business has had to make some tough decisions as part of the corporation's three-year, $400 million restructuring program. It announced plans to close by February 2017 its thermoplastic hose and tubing factory in Aurora, Ohio, where it employs 150. It also revealed plans earlier this year to shut down its hydraulics factory in Berea, Ohio, laying off about 100.