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Acquisition expands Crouse-Hinds' extensive harsh and
hazardous product portfolio and provides additional access to key end
markets
Dublin, Ireland, November 30, 2009 - Cooper Industries plc (NYSE: CBE) today announced the acquisition of Texas-based Pauluhn Electric from Federal Signal Corporation (NYSE:FSS). 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 Pauhluhn'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."