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To: Jim Oravetz who wrote (8375)	4/26/2000 4:09:00 PM
From: Jim Oravetz	Read Replies (2) \| Respond to of 10921

Eaton to Spin Off Chip Equipment Unit Apr 26 10:36am ET CLEVELAND (Reuters) - Industrial equipment maker Eaton Corp. (ETN.N) on Wednesday said it planned to spin off its semiconductor equipment business by year-end, starting with an early-summer initial public offering of a minority stake in the unit. Eaton said the IPO would occur in late June, and it then would evaluate alternatives for the disposition of its remaining stake in the company, Eaton Semiconductor Equipment Inc. In February Eaton said it was considering the sale of a minority stake in the semiconductor business, which is based in Beverly, Mass. ``These transactions are intended to further our objective of maximizing value for shareholders, given the significant differences between Eaton Semiconductor Equipment and Eaton's other businesses,'' Eaton Chairman and Chief Executive Officer Stephen Hardis said in a statement. ``As a stand-alone company, Eaton Semiconductor Equipment also will be better able to compete for talent in the employment marketplace by compensating employees with its own stock,'' Hardis said. Jim