ETN Eaton Corp New

Eaton Corporation (ETN) announced that it will supply hydraulic pumps to Virgin Atlantic Airways' 10 Airbus A330 passenger jets. The supply agreement further strengthens the bond that both companies already share.

Since Eaton already supplies AC motorpumps to Virgin Atlantic Airways’ A340 passenger fleet, the latest contract win does not come as a surprise. The components to be supplied by Eaton will provide A330 jets its primary hydraulic power and three AC motorpumps that provide auxiliary power for ground operation.

Eaton is one of leading provider of hydraulic components and has been winning contracts from its worldwide customer base. In March, Eaton received a contract from Berlin-based airline Germania to provide engine-driven hydraulic pumps, and is also entrusted for pump repair as well as overhaul services for the airline’s new fleet of Airbus A319 passenger jets.

Also in March, the largest Brazilian airlines TAM selected Eaton to provide engine-driven pumps and AC motorpumps for its new Airbus A330 passenger jets. The pumps will provide fluid power for primary flight control, flap and slat drives, landing gear, nose wheel steering, thrust reversers, spoilers, rudders, cargo doors and also the emergency hydraulic-driven electrical generators for the aircraft.

To further enhance its hydraulic business, Eaton recently acquired German filtration product maker Internormen Technology Group. Eaton's worldwide customer base stretches from commercial and military aviation, aerospace, military weapons, marine to off-road markets.

Eaton Corporation currently retains a Zacks #3 Rank (short-term Hold rating). We maintain our long-term Neutral rating on the stock. The company competes with ITT Corporation (ITT) and Parker Hannifin Corporation (PH), both of which carry a short-term Zacks #3 Rank (Hold).

Cleveland, Ohio, based diversified power management company Eaton Corporation is a leading supplier of the power accessories in the aerospace industry and has customers in 150 countries.

 
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