Cooper Industries plc on November 30 announced the acquisition of Texas-based Pauluhn Electric from Federal Signal Corporation. Pauluhn Electric is a leading provider of specialized marine, offshore and industrial lighting and connecting product solutions for harsh and hazardous locations and corrosive environments. Terms of the transaction were not disclosed.
"The acquisition of Pauluhn Electric complements our global-leading Cooper Crouse-Hinds’ harsh and hazardous product offering and enables us to continue to provide our customers with increasingly comprehensive, highly-specified solutions that enhance safety and productivity in demanding environments around the world," said Cooper Industries chairman and chief executive officer Kirk S. Hachigian. "Pauluhn has a strong reputation for innovative products and excellent quality and this acquisition further extends Crouse-Hinds’ access to several key end markets, including marine, mining and offshore drilling. Additionally, Crouse-Hinds’ global-leading market position and extensive distribution channel provides a great opportunity to expand Pauluhn’s offering to additional harsh and hazardous locations worldwide."
Pauluhn Electric was founded in 1924 and designs and manufactures a wide range of specialized area lighting and connecting solutions used in offshore and onshore drilling, shipbuilding, mining, petrochemical and other industrial applications involving harsh and corrosive environments.
"Cooper has an exceptionally strong balance sheet and continues to maintain a focused and disciplined acquisition strategy, despite a challenging macroeconomic environment," said Hachigian. "We remain committed to building key business and technology platforms that provide substantial growth opportunities in more specification-driven end markets."
About Cooper Industries
Cooper Industries plc is a global manufacturer with 2008 revenues of $6.5 billion, approximately 88 percent of which are from electrical products. Founded in 1833, Cooper's sustained level of success is attributable to a constant focus on innovation, evolving business practices while maintaining the highest ethical standards, and meeting customer needs. The Company has eight operating divisions with leading market share positions and world-class products and brands including: Bussmann electrical and electronic fuses; Crouse-Hinds and CEAG explosion-proof electrical equipment; Halo and Metalux lighting fixtures; and Kyle and McGraw-Edison power systems products. With this broad range of products, Cooper is uniquely positioned for several long-term growth trends including the global infrastructure build-out, the need to improve the reliability and productivity of the electric grid, the demand for higher energy-efficient products and the need for improved electrical safety. In 2008, 61 percent of total sales were to customers in the industrial and utility end-markets and 37 percent of total sales were to customers outside the United States. Cooper has manufacturing facilities in 23 countries as of 2008.