Cooper Industries, Ltd. has acquired Illinois-based GS Metals, a manufacturer of customized metal safety grating systems, bolted framing, and ladder and wire basket cable tray, and UK-based Clarity Lighting, a designer and manufacturer of light-emitting diode architectural lighting and control solutions.
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Expected full-year sales for the two companies in 2007 are $55 million and the combined purchase price is $49 million.
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Cooper is committed to building upon our core businesses, enhancing them by adding more technology and end-user specified products into the portfolio so that we can better serve our customers,” said Cooper Industries CEO Kirk S. Hachigian. “The acquisition of GS Metals complements our existing Cooper B-Line product offerings and enables us to offer more highly-engineered and customizable safety and support solutions to our customers in the industrial and commercial construction end-markets.
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“Clarity Lighting, which will report through Cooper Menvier, specializes in White Light and Red/Green/Blue LED color-changing technical lighting for commercial construction applications and signals our ongoing commitment to further strengthening our existing global offering in LED solutions.”
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Cooper Industries has completed ten acquisitions and joint-ventures in 2007.
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Cooper Industries, Ltd. is a global manufacturer with 2006 revenues of $5.2 billion, approximately 85 percent of which are from electrical products.