Cooper Industries Acquires G&H Technology
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HOUSTON, Jan. 24, 2006 -- Cooper Industries, Ltd. (NYSE:CBE) today announced the acquisition of G&H Technology, Inc., a Camarillo, Calif.-based designer and manufacturer of advanced, high-reliability connectors and interconnect devices. Financial terms were not disclosed.
G&H products address critical design, high-stress and harsh-environment conditions, and are used in aerospace, subsea, military and industrial applications. With sales of approximately $21 million in its most recent fiscal year, G&H Technology becomes part of the Cooper Crouse-Hinds Division of Cooper Industries.
"G&H provides highly technical specification-grade technologies that augment the traditional markets served by our Cooper Crouse-Hinds portfolio and extend our growth opportunities in the military, molded products and heavy-duty industrial sectors," said Cooper Industries President and Chief Executive Officer Kirk S. Hachigian. "The acquisition offers broader applicability to the hazardous environment markets worldwide, with additional capabilities for our customers and new cross-channel sales opportunities in the highly engineered connector market."
Cooper Industries also recently acquired Novitas, Inc., a Torrance, Calif.-based manufacturer of occupancy sensors, switch packs and accessories. Novitas, with sales of approximately $7 million, became part of the Cooper Wiring Devices Division.
Cooper Crouse-Hinds makes electrical distribution 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, industrial lighting, plugs and receptacles, and intrinsically safe instrumentation devices. In addition, Cooper Crouse-Hinds is a leader in airfield lighting and industrial connectivity applications. Headquartered in Syracuse, N.Y., Cooper Crouse-Hinds has manufacturing facilities in seven domestic and seven international locations, and approximately 3,100 employees worldwide.
Cooper Wiring Devices offers a complete line of wiring devices and accessories for the distribution and control of electrical power. Its products are used in industrial, institutional, commercial and residential construction as well as renovation and maintenance. The division is headquartered in Peachtree City, Ga.
About Cooper Industries
Cooper Industries, Ltd. is a global manufacturer of electrical products and tools, with 2005 revenues of $4.7 billion, approximately 30 percent of which are international sales. Incorporated in Bermuda with administrative headquarters in Houston, Cooper employs approximately 28,000 people and operates nine divisions: Cooper B-Line, Cooper Bussmann, Cooper Crouse-Hinds, Cooper Hand Tools, Cooper Lighting, Cooper Menvier, Cooper Power Systems, Cooper Power Tools and Cooper Wiring Devices. Cooper Connection provides a common marketing and selling platform for Cooper's sales to electrical distributors. For more information, visit the website at www.cooperindustries.com.
