Frost & Sullivan Names Eaton as 2004 Power Quality Company of the Year
Frost & Sullivan presented Eaton Corporation with the Power Quality Company of the Year Award at the 2004 Excellence in Industrial Technologies Awards Banquet, in recognition of its worldwide leadership in power distribution, power protection, and power equipment maintenance.
Frost & Sullivan presents this award to the company that has demonstrated unparalleled excellence in business development, competitive strategy, and customer service leadership. The award recognizes exceptional expertise in capturing and solidifying market presence and developing innovative strategies to move ahead in the existing competitive landscape.
Eaton has increased its market shares over the last three years despite the harsh global economic conditions. Its growth can be attributed to its offering of 'Solution Based Strategy' to its customers.
"The company has worked toward building intelligence into its power quality products and coupled it with the well-planned and timed acquisition of competing companies," says Frost & Sullivan Industry Analyst Vishal Sapru.
In 2003, Eaton and Caterpillar entered into a joint venture to provide a total systems approach to integrated, reliable electric power solutions for customer needs. Eaton also acquired Commonwealth Sprague's power factor correction business the same year to include this critical solution in its product portfolio and meet end-user/utility customer needs.
Eaton's entry into multiple power quality markets has enabled it to be a leader the power quality market by offering end users a total solution package. The company plans to invest in new product developments and support the distribution network through cooperative marketing programs, educational seminars, and other growth activities.
The company's competitive strategies work toward its mission "to anticipate and exceed the expectations of customers and become the best of class." For example, it is a one-stop shop for electrical systems. Eaton 'cross-sells' and 'up-sells' its complete line of products to the existing customers. This is a winning strategy as it not only gives Eaton a ready-made market for its products, but it also makes business simpler for the customer.
"Eaton is strong on the customer service side where its customers can rely on the depth of knowledge and dependability of its service professionals, expert engineering services and systems group, and world-class 24x7 customer service centers," notes Sapru.
The company has a strong distribution channel of approximately 3000 distributors across the globe. It also incorporates numerous power quality equipment solutions -- TVSS, UPS, transformers, and meters -- into panel boards and switchboards, cutting down costs of professional installation and making maintenance easier.
Eaton Electrical Services & Systems is dedicated to installation, maintenance, and design support. In addition, it has a network of 700 personnel that provide 24x7 response mechanism.
As record sales continue, particularly in energy sourcing, energy cost, and power quality solutions in the industrial, commercial, construction and utility sectors, the company continues to work toward having a stronger brand name, innovative proprietary technology, and a leading global market position.
Held in Miami, the Frost & Sullivan banquet honored world-class companies for outstanding performance and achievements in industrial technologies. An annual event, the banquet recognized the quality and merit of distinguished individuals and companies.
About Eaton Corporation
Eaton Corporation is a diversified industrial manufacturer with 2003 sales of $8.1 billion. Eaton is a global leader in fluid power systems and services for industrial, mobile and aircraft equipment; electrical systems and components for power quality, distribution and control; automotive engine air management systems and powertrain controls for fuel economy; and intelligent drivetrain systems for fuel economy and safety in trucks. Eaton has 51,000 employees and sells products to customers in more than 100 countries.
About Frost & Sullivan
Founded in 1961, Frost & Sullivan is recognized as a global leader in growth consulting. Frost & Sullivan awards are presented to companies that demonstrate excellence in their industry through diligence, commitment, and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine award recipients in a vast variety of market industries and landscapes. For further information, please visit the web site.
Source: Frost & Sullivan