February 3, 2003

Eaton completes acquisition and welcomes Delta employees

Recently, Eaton completed its acquisition of Delta plc’s electrical division, which will be integrated with Eaton’s electric group. Today, Eaton begins officially welcoming Delta electrical employees to the organization. “This is an important day for us. We look forward to working with the Delta employees and leveraging our combined strengths; we’re truly going global with the power of ‘One Eaton’,” says Randolph W. Carson, Executive Vice President, Eaton Corporation.

The acquisition demonstrates Eaton’s commitment to global growth and the electrical industry. Delta’s electrical division – with presence in Europe, the Middle East, Africa, and Asia Pacific, and strong IEC brand names such as MEM, Holec, BiLL, Home Automation, Elek, and TABULA – complements Eaton’s portfolio of products, geographic reach, and customer relationships in its electric group. The acquisition provides more opportunities to tap significant new markets and support multinational customers with a broader range of solutions, a strong local presence and technical expertise.

As part of our Welcome Day efforts, Eaton leaders are meeting with many Delta employees to provide an introduction to the company. An integration team, comprised of Eaton and Delta leaders, is using a proven, step-by-step integration approach to ensure a smooth transition. “Integration is a complex effort involving people, processes, products and systems, and – as a result – will take time,“ says Carson. “We’re asking all employees to stay relentlessly focused on our customers to make the transition as smooth as possible for them.”

Throughout the integration, Eaton is committed to providing open and timely information. Employees can submit questions and comments using the following e-mail address: deltaquestions@eaton.com. More information about the integration will follow in the coming weeks and months.

“This is the first of many steps in our global growth plan. We are thrilled to have this opportunity to strengthen our business and to have Delta employees join our team,” says Carson.