Eaton Corp. donates $500,000 to NAED education fund
March 25, 2005 - Money will become part of endowment fund.
The National Association of Electrical Distributors has announced a $500,000 commitment by Eaton Corp. to the NAED Education & Research Foundation.
"Eaton has long been committed to the valued role of electrical distribution to our industry and is proud to support the NAED Education & Research Foundation," says Randy Carson, senior vice president and group executive for Eaton. "We are always looking for ways to improve our business processes and to add value for our customers and channel partners.
"We applaud NAED's efforts to foster innovation among its membership through programs like the Channel Advantage Partnership," Carson continues. "Fresh ideas and fresh approaches will continue to ensure the mutual success of both distributors and manufacturers."
Eaton Corp. is a diversified industrial manufacturer with 2004 sales of $9.8 billion. Eaton produces 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 solutions. The company has 55,000 employees and sells products to customers in more than 125 countries.
In the electrical industry, Eaton is a manufacturer of electrical control, power distribution, and industrial automation products and services. Eaton provides customer-driven solutions under brand names, such as Cutler-Hammer, Powerware, Holec, and MEM.
"We are thankful for Eaton's generous donation to the NAED Education & Research Foundation," says Bill Elliott, chairman of the Channel Advantage Partnership Council. "This gift is a big step toward building a permanent funding base for the foundation and will help us to focus our efforts on developing progressive training resources and research projects to address the needs of our industry."
The company's donation will become part of an endowment fund for the NAED Education & Research Foundation. The principal amount of the endowment will remain untouched, while the interest will be used to commission future projects and studies. As a $500,000 donor, Eaton will be recognized at the regent level and have a permanent position on the Channel Advantage Partnership Council, which will help select future educational programs and research projects.
NAED is based in St. Louis, MO. For more information visit www.naed.org.