Cooper Acquires French Power Tool Maker Recoules S.A.
19 January 1998
Cooper Acquires French Power Tool Maker Recoules S.A.HOUSTON, Jan. 19 -- Cooper Industries, Inc. has acquired Recoules S.A., a leading French manufacturer of industrial and commercial power tools and specialty cutters. With annual revenues of more than $10 million, Recoules' power tools are sold primarily in Europe for use in aerospace and industrial applications. Located in Ozoir-la-Ferriere, France, near Paris, Recoules has approximately 90 employees. Recoules is an excellent complement to Cooper's existing power tools business, allowing us to add new customers and new products," said H. John Riley, Jr., Chairman, President and Chief Executive Officer of Cooper Industries. "This acquisition enhances Cooper's extensive product line and expands our global presence," Riley said. Recoules S.A. becomes part of the Cooper Power Tools Division, which manufactures pneumatic and DC electric tools, screwdriver bits, impact sockets, universal joints, hoists, and assembly equipment, sold under the Apex, Buckeye, Doler and Dotco trademarks, and licensed trademarks Gardner- Denver and DGD. Headquartered in Lexington, South Carolina, Cooper Power Tools has manufacturing facilities in five domestic and five international locations, and approximately 1,500 employees worldwide. 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.