Cooper Acquires Kearney Company
30 June 1997
Cooper Acquires Kearney CompanyHOUSTON, June 30 -- Cooper Industries, Inc. announced today that it has acquired Kearney Company, Inc., a subsidiary of The Dyson-Kissner-Moran Corporation. Terms of the agreement were not disclosed. Kearney Company, headquartered in Tucker, Georgia, manufactures electrical power distribution equipment including power switches, equipment enclosures, fuses for circuit and equipment protection, connectors, maintenance tools and system automation products. The company's primary customers are utilities, and its 1996 revenues were $53.5 million. Kearney will become part of the Cooper Power Systems business headquartered in Waukesha, Wisconsin. "We're pleased to add Kearney Company to our growing power systems business and further enhance our already strong electrical products segment," said H. John Riley, Jr., Cooper's Chairman, President and Chief Executive Officer. "This acquisition will broaden our product offerings, expand our system automation product line and allow us to leverage our existing cost structure." Kearney Company employs approximately 300 people and has several U.S. and international manufacturing facilities. Cooper Industries, with 1996 revenues of $5.3 billion, is a diversified, worldwide manufacturer of electrical products, tools and hardware, and automotive products. Additional information about Cooper is available on the company's World Wide Web site: http://www.cooperindustries.com. SOURCE Cooper Industries, Inc.