Eaton expanding Texas plant as part of $500M investment

Eaton Corp. Plc
ETN,
+0.45%
said Monday it’s adding 200,000-square-feet to its Nacogdoches, Texas electrical transformer manufacturing facility in a move that will create more than 200 manufacturing jobs. It’s part of an overall $500 million investment by the end of 2024 to grow its electrical products business including its South Carolina facility that makes a charger station for electric vehicle fleets. Eaton Corp. stock is up by 42.9% in 2023, compared to a 14.8% increase by the S&P 500
SPX,
+0.60%.