U.S.-based Eaton Corp. (ETN) expects its global revenue to grow 12% to 14% annually over the next five years, Vice Chairman Craig Arnold said Tuesday.

"We are seeing recovery in markets," he told Dow Jones Newswires at a conference. Arnold said revenue for 2009 was $11.90 billion.

He expects revenue from the company's Asia business at $2.5 billion in 2010. Arnold didn't provide the 2009 revenue from Asia.

He expects the hydraulic and automotive businesses to contribute to the overall growth in 2010, but sees a modest fall in the aerospace business.

Diversified industrial company Eaton makes electrical components and develops hybrid power systems for commercial vehicles and other commercial applications. It also makes hydraulics and pneumatic systems for commercial and military use.

-By Raghavendra Upadhyaya, Dow Jones Newswires; +91-22-6145-6121; ameya.karve@dowjones.com
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