Eaton in 'Smart Buildings Initiative' - Analyst Blog
April 13 2011 - 1:07PM
Zacks
Eaton Corporation (ETN) has been selected for
the General Services Administration’s (GSA) Smart Buildings
Initiative. Under the initiative, Eaton has been assigned the first
project of modernizing the Edith Green-Wendell Wyatt Federal
Building in Portland, Oregon.
As part of the Edith Green Modernization Project, Eaton will
design and furnish new systems to replace power distribution, power
control and electrical metering equipment in the 17-floor, 517,000
square-foot structure, which was set up in 1975 and named after two
former Oregon Congressional representatives.
The initial contract for the modernization of the Edith Green,
worth $600,000, stemmed from a $133 million federal stimulus grant
for the General Services Administration to attain energy efficiency
and comfort in the building.
The GSA said the work at the Edith Green will provide a template
for more than 20 federal office buildings with similar needs. To be
completed in 2013, the project will enable the Edith Green building
to meet LEED Platinum standards by integrating innovative,
sustainable technologies. It is the largest American Recovery and
Reinvestment Act (ARRA) project in GSA Region 10, which covers
Oregon, Alaska, Idaho and Washington.
Eaton offers a spectrum of solutions designed to reduce energy
consumption and leave a smaller footprint on the environment. With
turn-key services and support, Eaton helps customers manage power
consumption and brings about strategic coordination of electrical
equipment, design and installation services required to commission
a “smart building” system.
Eaton has
reached several agreements with government organizations
including $8 million in electrical products and services for the
San Antonio Military Medical Center on the Fort Sam Houston Army
base in Texas; the design and installation of a turn-key Solar
Photovoltaic (PV) System at the Albuquerque, New Mexico Department
of Veterans Affairs (VA) Health Care System; and for supplying hybrid
electric power systems for 35 fuel-efficient shuttle buses
purchased by the U.S. General Services Administration for use in
U.S. military bases.
With such experience, we believe Eaton has the capability to
provide assistance to the General Services Administration for this
important project, which will increase energy efficiency and serve
as a manual for similar green building initiatives throughout the
nation.
Eaton Corporation currently retains a Zacks #3 Rank (short-term
Hold rating). The company competes with ITT
Corporation (ITT) and Parker Hannifin
Corporation (PH), both of which carry a short-term Zacks
#3 Rank (Hold).
Cleveland-based Eaton Corporation is a leading
supplier of
power accessories for the aerospace industry and has
customers in 150 countries.
EATON CORP (ETN): Free Stock Analysis Report
ITT CORP (ITT): Free Stock Analysis Report
PARKER HANNIFIN (PH): Free Stock Analysis Report
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