Cooper Industries Completes B-Line Acquisition
2 May 2000
Cooper Industries Completes B-Line Acquisition
HOUSTON, May 1 Cooper Industries, Inc. (NYSE: CBE) today
announced that it has finalized its purchase of B-Line Systems. The Company
had announced on March 27 its agreement to purchase the Illinois-based
manufacturer of electrical construction materials from Sigma-Aldrich
Corporation. B-Line had 1999 revenues of $253 million.
"By acquiring B-Line, we are enhancing our product offerings to both
existing and prospective customers," said H. John Riley, Jr., chairman,
president and chief executive officer. "We believe there is significant
growth potential for B-Line's products in the U. S., as well as important new
markets to be tapped internationally. In addition, B-Line adds strength to
Cooper's position in the dynamic, higher growth electronics and
telecommunications markets."
B-Line will operate as a stand-alone division of Cooper Industries, to be
known as Cooper B-Line, headquartered in Highland, Ill. This operation will
continue to be led by Tom Briggs, who has been named as division president.
Cooper Industries, with 1999 revenues of $3.9 billion, is a worldwide
manufacturer of electrical products, tools and hardware. Cooper Industries
offers its electrical equipment customers a wide variety of products including
fuses, overcurrent protection products, fluorescent, incandescent and HID
lighting fixtures, emergency lighting, fire detection systems and security
equipment, components and systems to distribute and manage electrical power,
electrical distribution products, explosion-proof equipment, industrial and
airport lighting and sensor and control devices for power equipment.
Cooper Industries is headquartered in Houston, Texas, and employs more
than 30,000 people at over 100 locations around the world. Additional
information about Cooper is available on the Company's Internet site:
http://www.cooperindustries.com.
CONTACT: John Breed of Cooper Industries, Inc., 713-209-8835.