Eaton to invest another $150 million in North America operations, create 600 jobs at a new El Paso plant

Power management company Eaton Corp.
ETN,
-2.85%
said Wednesday it will invest an additional $150 million to expand supply of its electrical power distribution to customers in North America. As part of the plan, the company will create more than 600 new skilled manufacturing jobs at a new facility in El Paso, Texas. The money comes on top of a recently announced $500 million investment in North American electrification, energy transition and digitization. “The new regional expansion will enable Eaton to increase production of its circuit breakers, switchboards, panelboards and other assemblies that enable power distribution for critical infrastructure across industries,” the company said in a statement. The company will also expand capacity at facilities in Beaver, Pennsylvania; Juarez, Mexico; Arecibo, Puerto Rico; and Haina, Dominican Republic. The stock has gained 45% in the year to date, while the S&P 500
SPX,
+0.12%
has gained 16.2%.