Ohio-based industrial manufacturer Eaton Corporation has been named a Thomson Reuters 2011 Top 100 Global Innovator for its achievements as one of the world’s most innovative companies.
The program identifies businesses that invent on a significant scale, are working on developments acknowledged as innovative by patent offices across the world, and have inventions that require global protection.
“At Eaton, innovation is fundamental to our strategies for global growth, and we are pleased with this recognition,” said Lennart Jonsson, Eaton executive vice president and chief technology officer. “Innovation is not easy; it challenges the status quo, attempts to identify future trends and sometimes involves higher-risk investments. But we are committed to continually creating new ways to provide our customers with safe, reliable, efficient and sustainable power management solutions.”
Eaton has a long-standing business relationship with Puerto Rico, where it has four manufacturing plants in Las Piedras, Coamo, Arecibo and Canóvanas, and more than 150 employees.
“Innovation is a means of growth and prosperity for companies and nations struggling to overcome sluggish economies and achieve competitive advantage,” said David Brown, president of the IP Solutions business of Thomson Reuters. “We salute the Thomson Reuters 2011 Top 100 Global Innovator companies and their leaders for the innovative spirit they foster and their commitment to protecting intellectual assets.”
According to Thomson Reuters, the 100 companies named to the global innovator list collectively increased weighted average revenue by nearly 13 percent in 2010, outperforming the increase in revenue for Standard & Poor’s (S&P) 500 Index companies by nearly 6 percent. They more than doubled the R&D spend of their S&P 500 counterparts, and nearly 74 percent of the publicly traded companies had an increase in stock price in 2010.
Thomson Reuters based its research on its own databases and on patent authorities in China, Japan, US and Europe. Criteria were made up of four measures: volume of patent applications, success of applications, global portfolio and influence on the industry.
Eaton Corporation is a diversified power management company with 2010 sales of $13.7 billion. Celebrating its 100th anniversary in 2011, Eaton is a global technology leader in electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.