Cooper Industries Acquires German Tool Maker Geta-Werk
6 March 1998
Cooper Industries Acquires German Tool Maker Geta-WerkHOUSTON, March 6 -- Cooper Industries, Inc. has acquired Geta-Werk, located in Attendorn, a leading German manufacturer of high quality industrial screwdriver bits, sockets and specialty assembly accessories. Geta's power tool accessories are primarily sold for use in automotive and industrial applications. "Geta is an excellent complement to Cooper's existing power tools business. It will provide a stronger local presence in Europe for our power tool accessories business, and allow us to meet the demanding application needs of our global customers," said H. John Riley, Jr., Chairman, President and Chief Executive Officer of Cooper Industries. Geta-Werk 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, Dotco, Master Power, Recoules and Utica trademarks, and licensed trademarks Gardner-Denver and DGD. Headquartered in Lexington, South Carolina, Cooper Power Tools has manufacturing facilities in five U.S. and three international locations, and approximately 1,600 employees worldwide. Cooper Industries, with 1997 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.