Cooper Industries Acquires Industrias Royer, S.A. de C.V.
29 June 1998
Cooper Industries Acquires Industrias Royer, S.A. de C.V.HOUSTON, June 29 -- Cooper Industries, Inc. has acquired Industrias Royer, S.A. de C.V., a manufacturer of residential and industrial wiring devices, porcelain lighting sockets, and fusible disconnect switches located in Mexico City. Royer has annual sales of more than $15 million. Electrical products from Royer are sold throughout Mexico for use in commercial and industrial applications. Terms of the acquisition were not disclosed. "Royer's excellent manufacturing capability and its broad product line offer good opportunities for further expansion in Mexico, as well as possible sourcing for markets throughout North and South America," said H. John Riley, Jr., Chairman, President and Chief Executive Officer of Cooper Industries. "This acquisition continues our strategy of reinvesting our cash flow to expand Cooper's global market presence and add to the earnings growth of our electrical products segment." Industrias Royer will become part of the Cooper Bussmann division. Headquartered in St. Louis, Missouri, Bussmann has manufacturing facilities in seven domestic and eleven international locations, and more than 5,000 employees worldwide. Houston-based 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.