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Amsterdam/Roosendaal (The Netherlands), February 13, 2006 - Today, Penske Logistics
announced that Eaton Corporation (NYSE: ETN) selected the firm to serve as its lead logistics
provider in Europe. While financial terms of the deal were undisclosed, the new contract builds
upon a well-established
relationship between the two companies in the United States.
"Penske Logistics was selected by Eaton Corporation based on its strategic planning and supply
chain management expertise in Europe, and our focus on long-term
solutions that drive down
costs," said Erik van Egmond, managing director of Penske Logistics Europe. "We are particularly
excited to work with Eaton on this project due to its diversified industrial base and dynamic supply
Under the new agreement, Penske Logistics will provide transportation management services,
which includes the management and procurement of transportation, followed by a comprehensive
supply chain redesign program for Eaton's European manufacturing operations, which span 13
Eaton's European Supply Chain Director, Les Ball, said, "We are delighted to work with Penske, a
partner who will provide us with supply chain insights and help us reduce our total operational
Mario Hegewald, Eaton's global logistics director, added, "This program with Penske will be one
of our key strategic projects for 2006 as we develop our footprint in Europe. The first step will be
for Penske to implement their Transportation Management System (TMS) and the day-to-day
handling of Eaton's inbound and outbound flows. Penske will optimize and redesign the transport
network by combining shipments with other Penske customers."
About Eaton Corporation
Eaton Corporation is a diversified industrial manufacturer with 2005 sales of $11.1 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
59,000 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. 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.