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Cooper Industries Completes Swap of Businesses With Standard Motor Products

31 March 1998

Cooper Industries Completes Swap of Businesses With Standard Motor Products

    HOUSTON, March 31 -- Cooper Industries said today
that it has completed its previously announced exchange of Cooper's Moog
temperature control business and Standard Motor Products, Inc.'s
brake business.  The two businesses produced 1997 revenues of approximately
$125 million and $160 million, respectively.  Terms of the transaction were
not disclosed.
    The temperature control business of Moog Automotive includes motors, air
conditioning compressors, heater cores and associated parts sold under the
Everco, Murray, Frostemp and Automotive Components brand names.  The brake
business of Standard Motor Products includes hydraulic and friction products,
drums and rotors and hardware sold under the EIS, Cali-Blok, Traffic King and
TruTech brand names.
    "We look forward to achieving new levels of strength and customer service
in our automotive brake business," said H. John Riley, Jr., Chairman,
President and Chief Executive Officer of Cooper Industries.  "With completion
of the business swap, we are now positioned to achieve additional significant
operating efficiencies and to continue to improve the performance of our
overall automotive business."
    Headquartered in St. Louis, Missouri, the Moog Automotive organization of
Cooper Industries has 19 manufacturing facilities in the United States and two
international locations and employs about 5,700 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