Cooper Industries Announces Three Acquisitions

Friday, Jan 06, 2012

Cooper Industries plc (NYSE:CBE) today announced the acquisitions of Changzhou Yuhua Electrical Equipment Manufacturing Co., Ltd. (Yuhua); Blinda Industria e Comercio Ltda (Blinda); and GE's Industrial Systems British Standard fuse-link product portfolio.  Combined sales for the three companies in 2011 will be approximately $36 million and the combined purchase price is approximately $56 million.

Yuhua specializes in the research, development, and production of explosion-proof CCTV systems and explosion-proof communication systems certified for use in onshore and offshore oil and gas, marine, mining, and petrochemical markets.  Located in Changzhou, China, Yuhua joins the Cooper Safety division.  Blinda, based in Campinas, Brazil, manufactures highly-specified explosion-proof products such as lighting and panel boards for oil and gas markets in Brazil.  Blinda is now part of the Cooper Crouse-Hinds division.  Cooper Bussmann has acquired the British Standard fuse-link product portfolio from GE Industrial Systems, which strengthens Bussmann's over-current circuit protection portfolio globally, especially in India and Australia.

"The acquisitions of Yuhua, Blinda, and GE's British Standard fuse-link product portfolio enhance our presence in higher-growth emerging markets with additional technology and capability.  We continue to demonstrate our commitment to the oil and gas space, having now completed 12 acquisitions serving that market vertical in the last 6 years.  Along with Cooper's acquisition of HERNIS Scan Systems last year, Cooper now provides the industry leading capability, geographic footprint, and portfolio in explosion-proof CCTV systems for harsh and hazardous environments.  Although small, Yuhua and Blinda are leading brands in China and Brazil, respectively, and are strategic fits within Cooper's global-leading portfolio of explosion-proof electrical products for harsh and hazardous environments," said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian.

"Cooper has an exceptionally strong balance sheet and continues to maintain a focused and disciplined acquisition strategy," said Hachigian. "We remain committed to building key business and technology platforms that provide substantial growth in more specification-driven end markets."

Source: PR Newswire