CLEVELAND, April 3, 2007 - Diversified industrial manufacturer Eaton Corporation honored its best suppliers at its second annual Supplier Awards Program on March 28 at the Renaissance Cleveland Hotel. The event recognized 50 companies as Premier Suppliers.
From that group, 12 received highest honors as the company's Supplier Excellence Award winners. One of the 12 receiving highest honors was Penske Logistics, for transportation management services in North America and Europe. Penske Logistics received recognition for on-time delivery, responsiveness, cost-savings and other achievements.
Richard B. Jacobs, Eaton's vice president–Supply Chain Management, said, "We have thousands of suppliers around the world that we evaluate on quality, productivity, innovation and technology. The companies we are honoring with these awards excel in these critical categories."
The award winners fall within one of three supplier categories: Direct, Indirect or Logistics. Direct suppliers are those that provide goods used directly in the making of products (e.g., bearings, gaskets, seals, castings, machined components, subassemblies). Indirect suppliers provide materials and services that support the production of finished products or the management of Eaton's business (e.g., chemicals, maintenance and repair materials and services, office equipment and supplies, packaging). Logistics suppliers handle the transportation of goods inbound from suppliers and outbound to customers.
"These suppliers are the very best in our global supply base," Jacobs said. "They make a real contribution to the continuing success of our business."
"We are very honored to receive this award and thank Eaton for recognizing our contributions to help them drive global supply chain excellence," said Penske Logistics President Vince Hartnett. "This award was earned by our employees around the globe in close collaboration with the Eaton team and truly reflects their dedication to excellence in designing solutions and serving our customer's needs."
About Eaton Corporation
Eaton Corporation is a diversified industrial manufacturer with 2006 sales of $12.4 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 60,000 employees and sells products to customers in more than 125 countries. For more information, visit www.eaton.com
About Penske Logistics
Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing, a joint venture of Penske Corporation and General Electric. Penske Logistics provides supply chain management and logistics services to major industrial and consumer companies throughout the world. The company has offices and operations in North America, South America, Europe and Asia. Penske Logistics delivers value through design, planning and execution in transportation, warehousing, international forwarding and carrier management. Visit www.PenskeLogistics.com to learn more about the company and its services.