ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Eaton Modernizes Its Manufacturing Footprint With Two New Smart Factories

  • A newly built and a legacy Eaton site have embraced Industry 4.0 technology to digitalize operations.
  • Best practices and learnings from the smart factories will help accelerate the implementation of Industry 4.0 technology at other Eaton sites.
  • Three additional regional sites, including one in the United States, are planned to go live as smart factories by the end of 2024.

Intelligent power management company Eaton (NYSE: ETN) announced today its continued commitment to modernizing the company’s manufacturing footprint with smart factories in Juarez, Mexico, and Changzhou, China. As both a new build and legacy site, respectively, these electrical manufacturing sites have embraced Industry 4.0 technology and its benefits to digitalize operations. Juarez and Changzhou will serve as models for other Eaton plants, to help accelerate the implementation of advanced digital technologies.

Known as the fourth industrial revolution, Industry 4.0 leverages automation of traditional manufacturing practices using digital technologies like the Internet of Things (IoT), robotics, additive manufacturing, factory simulation and augmented and virtual reality to adapt, predict and optimize factory performance. These technologies improve the efficiency of plants, leading to higher product quality, increased speed-to-market, a reduced environmental footprint and a safer and more productive workforce.

“Now, more than ever, there’s an expectation for manufacturers to optimize production, enhance customer experience, and enable innovation, driving the need for the benefits of Industry 4.0 solutions,” said Craig Sutton, vice president, Industry 4.0 at Eaton. “Our plants in Juarez and Changzhou have worked tirelessly to implement the advanced technologies needed to create smart and connected manufacturing environments that will help meet demand.”

Built with Industry 4.0 in mind

Juarez began operations less than two years ago, built from the ground up with Industry 4.0 in mind. Today, this smart and connected manufacturing site employs more than 500 people and has implemented 10 Industry 4.0 technologies. Connected equipment spans every corner of the facility, including molding, stamping, automated feeder lines, manual and automated assembly, subassembly, and facilities equipment. This connectivity has led to an 18 percent improvement in on-time delivery. Digital work instructions provide updates in real-time based on production and design changes, creating an almost paperless environment.

The site also utilizes Eaton’s Asset Performance Management solution, part of the Brightlayer Industrial suite, to track and analyze energy usage, resulting in increased energy efficiency, reduced energy consumption and early identification of significant energy users to reduce emissions and help meet the plant’s sustainability goals. The site has been certified as LEED Gold by the U.S. Green Building Council – recognized globally as a symbol of sustainability achievement – and recycles or reuses 99.8% of all waste.

Digitalizing a legacy site

Operating for nearly two decades and employing more than 370 people, the Changzhou site has implemented advanced technologies including additive manufacturing, factory simulation, autonomous robots, and augmented reality, among others, to digitalize its operations and realize a 26% increase in overall factory efficiency. A connected learning center provides employees with an immersive learning experience before they enter the factory floor.

Eaton’s Intelligent Energy Management solution (available in APAC only) integrates digital and intelligent solutions at the site to optimize power supply from utilities, Photovoltaic solar panels, and an energy storage battery based on the most economical choice. The solution monitors all electrical power usage at the site in real time and reports any abnormalities, allowing for early identification and detection of energy-saving opportunities. Since 2018, Changzhou has decreased greenhouse gas emissions by 50%.

The company continues to invest in its manufacturing, planning to go live with three additional smart factories by the end of 2024, including locations in Austria, Brazil, and the United States. This further investment in North American manufacturing complements the almost $750 million announced in 2023.

Learn more about Industry 4.0 at Eaton here.

Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.

Eaton was founded in 1911 and has been listed on the New York Stock Exchange for more than a century. We reported revenues of $20.8 billion in 2022 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on LinkedIn.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.