Cooper Industries Announces the Acquisition of WPI Interconnect Products
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Manufacturer of custom industrial, commercial and military connectors and cable assemblies
HOUSTON, Jan. 3, 2007 -- Cooper Industries, Ltd. (NYSE:CBE) today announced the acquisition of WPI Interconnect Products, a Salem, New Jersey-based, privately owned manufacturer of custom connectors and cable assemblies for approximately $74.5 million.
WPI is a leading manufacturer of customized connector and cable assembly solutions for military, industrial and commercial applications. With sales of approximately $61 million in its most recent fiscal year, WPI becomes part of the Cooper Crouse-Hinds Division of Cooper Industries.
"WPI's capabilities add substantial depth to our portfolio of highly customized specification-grade connector technologies for use in harsh, heavy-duty and hazardous locations. Coupled with our acquisition of G&H Technology in early 2006 and the existing Cooper Crouse-Hinds business, we now have greatly expanded our offering of highly engineered interconnect products for our customers," said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian. "The WPI acquisition represents a continuation of the theme we laid out for investors in the 2006 Outlook meeting, specifically that we will build on existing platforms in the Cooper portfolio, expanding into highly customized and technical adjacencies that leverage our core strengths and represent solid profitable growth opportunities."
About Cooper Crouse-Hinds
Cooper Crouse-Hinds makes electrical products and explosion-protected equipment for commercial, industrial and hazardous environments worldwide. Its products include fittings, enclosures, apparatus and industrial motor controls, signals and alarms, plugs and receptacles, and industrial lighting. In addition, Cooper Crouse-Hinds is a leader in industrial connectivity applications. Headquartered in Syracuse, N.Y., Cooper Crouse-Hinds has manufacturing facilities in seven domestic and six international locations, and approximately 3,400 employees worldwide.
About Cooper Industries
Cooper Industries, Ltd. is a global manufacturer with 2005 revenues of $4.7 billion, approximately 85 percent of which are from electrical products. Incorporated in Bermuda with administrative headquarters in Houston, Cooper employs approximately 29,000 people and operates eight divisions: Cooper B-Line, Cooper Bussmann, Cooper Crouse-Hinds, Cooper Lighting, Cooper Menvier, Cooper Power Systems, Cooper Wiring Devices and Cooper Tools Group. Cooper Connection provides a common platform for Cooper's marketing and sales to electrical distributors. For more information, visit the website at www.cooperindustries.com.
For information contact:
Jon Safran
Cooper Industries
713-209-8610
safran@cooperindustries.com
