Cooper Acquires Coiltronics, Inc.
8 August 1997
Cooper Acquires Coiltronics, Inc.HOUSTON, August 8, 1997 -- Cooper Industries, Inc. announced today that it has acquired Coiltronics, Inc. Terms of the agreement were not disclosed. Coiltronics, headquartered in Boca Raton, Florida, manufactures inductors and transformers used in electronic filtering applications. The company's revenues are about $18 million. Coiltronics will become part of Cooper's Bussmann Division. "Coiltronics adds to Bussmann's growing line of products providing circuit protection and power quality for the electronics market," said H. John Riley, Jr., Cooper's Chairman, President and Chief Executive Officer. Principal applications for Coiltronics' technology include telecommunications products, computers and peripherals, and consumer electronics. "The addition of Coiltronics furthers Bussmann's strategy of expanding its offering of products to serve high-growth markets," Riley added. Headquartered in St. Louis, Missouri, Cooper's Bussmann Division manufactures and markets circuit protection products for the electronic, electrical and automotive industries. 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.