Cooper Industries

Last updated
Cooper Industries Inc.
Company type Subsidiary
IndustryElectrical Products Manufacturing
Founded Mount Vernon, Ohio, United States (1833)
FounderCharles Cooper
Elias Cooper
FateAcquired by Eaton Corporation in 2012
Successor Eaton Corporation
Signify N.V.
Headquarters Houston, Texas, United States
Key people
Kirk S. Hachigian, CEO & Chairman
Products Electrical equipment
RevenueIncrease2.svg US$5,409.4 million (2011)
Increase2.svg US$827.6 million (2011)
Number of employees
26,000 (2011)
Website cooperlighting.com

Cooper Industries was an American worldwide electrical products manufacturer headquartered in Houston, Texas. Founded in 1833, the company had seven operating divisions including Bussmann electrical and electronic fuses; Crouse-Hinds and CEAG explosion-proof electrical equipment; Halo and Metalux lighting fixtures; and Kyle and McGraw-Edison power systems products.

Contents

In 2011, 59% of total sales were to customers in the industrial and utility end-markets and 40% of total sales were to customers outside the United States. Cooper has manufacturing facilities in 23 countries as of 2011. [1]

On November 26, 2012, it was announced that the company will be replaced in the S&P 500 index, since its takeover by Eaton Corporation.

History

Cooper Industries was founded in 1833 by brothers Charles and Elias Cooper. The company started as a foundry located in Mt. Vernon, Ohio, and was initially called the C&E Cooper Company. Cooper's initial product offerings included plows, hog troughs, kettles and stoves. By the mid-nineteenth century the company was concentrating on steam engines.

As the use of steam power declined in the late 1800s, Cooper again shifted its focus, this time to gas engine technology. By the time the 20th century arrived, Cooper Industries had become the American leader in pipeline compression engines, products that enabled the development of the growing oil and gas industry. This period was also highlighted by a merger with Bessemer Gas Engine Company, yielding Cooper-Bessemer.

In the 1940s, Cooper-Bessemer played a role in the U.S. World War II effort, supplying engine components that powered almost all of the ships in the Navy's minesweeper fleet, as well as the famous Liberty Ships, which carried 75% of the cargo used by Allied armed forces. After the war, Cooper-Bessemer again embarked on an effort to diversify itself in a changing world economy.

As the company looked to increase its product portfolio, Cooper expanded its offering into electrical products, electrical power equipment, automotive products, tools and hardware. A detailed history of the expansion in the 1950s through early 1980s is given in Keller 1983, a history commissioned by the company for its 150th anniversary. [2] Acquisitions in the 1980s included Crouse-Hinds (1981) and McGraw-Edison (1985).

In the last decade of the 20th century, Cooper underwent a period of portfolio rationalization, reducing its exposure to more cyclical industries such as automotive and petroleum. Ultimately, Cooper emerged focused on the two business segments that remain in the portfolio today – Electrical Products Group and Energy and Safety Solutions. [3] On May 23, 2002, Cooper Industries Inc had completed reincorporation in Bermuda from Ohio.

In February 2008, Cooper Industries announced its acquisition of MTL Instruments Group. [4] On November 30, 2012, Eaton announced its completion of acquisition of Cooper Industries. [5]

In March 2020, Eaton announced the sale of its lighting business to Signify N.V., the company that was formed from the spin-off of Philips' lighting division [6]

Divisions

Cooper Industries was acquired by Eaton Corporation in 2012. [7] The divisions are undergoing name changes as a result.

Cooper Lighting Solutions

Cooper Lighting Solutions manufactures lighting fixtures and related products to worldwide commercial, industrial, residential and utility markets. This includes track and recessed lighting (LED, fluorescent, H.I.D.), exit and emergency, vandal-resistant, landscape and complex environment lighting. Cooper Lighting Solutions manufactures lighting fixtures under several brands, many of which were the result of acquisitions. These brands include:

  • Corelite
  • Fail-Safe
  • Halo
  • IRiS
  • Lumark
  • McGraw-Edison
  • Metalux
  • Neo-Ray
  • Portfolio
  • RSA
  • Sure-Lites
  • Shaper
  • Streetworks

Eaton's B-line Business

Eaton's B-Line Business (formerly Cooper B-Line) is a global provider of support systems and enclosure solutions[ clarification needed ] for engineered facility subsystem applications[ clarification needed ] in various markets: commercial, industrial, utility and OEM.

Eaton's Bussmann Business

Eaton's Bussmann Business (formerly Cooper Bussmann) manufactures and markets a wide variety of North American and European-styled fuses for the electrical, electronics and transportation industries. The company also produces industrial and mobile wireless solutions, plus inductors and transformers for power quality in electronics applications. [8] Bussmann's main industrial manufacturing facilities are located in the United States (Black Mountain and Goldsboro NC, Chicago IL, Ellisville MO, Boca Raton FL), in Mexico (Juarez and Mexico City), in UK (Workington and Burton-on-the-Wolds), in Hungary (Győr), Xi’an (China), India (Pondicherry), Costa Rica (San Jose), Brazil (Itu). [9]

Business Units

Eaton's Cooper Safety Business

Eaton's Cooper Safety Business (formerly Cooper Safety) specializes in notification, alarm and safety systems. This includes emergency lighting, fire detection and alarm systems, hazardous area communications, life safety notifications, mains lighting and security systems. Cooper notification acquired Wheelock inc. In 2006.

Eaton's Cooper Wiring Devices Business

Eaton's Cooper Wiring Devices Business (formerly Cooper Wiring Devices) works closely with Eaton's Cooper Lighting Business. The company has acquired well known brands like Eagle Electric, Arrow Hart, ArrowLink, RhinoBox, Aspire, Aspire RF, and MediaSync.[ who? ] The companies products include cable assemblies, data connectors for military, home and commercial, lighting switches, outlets, receptacles, subsea wiring and communications ports.

Eaton's Cooper Power Systems Business

Eaton's Cooper Power Systems Business (formerly Cooper Power Systems) a subsidiary of Cooper Industries is a global manufacturer and provider of power delivery apparatus for the utility, commercial, and industrial markets in the medium voltage and high voltage ranges.

The company provides products and services required to transform, protect, connect, and build out an electric power system backbone. Reliability and grid-point solutions include: Integrated Volt/Var Control (IVVC), feeder, and substation automation systems. Endpoint solutions include: Advanced Metering Infrastructure (AMI) and Demand Response (DR). Additionally the company provides engineering optimization and modeling tools.

Eaton's Crouse-Hinds Business

Eaton's Crouse-Hinds Business (formerly Cooper Crouse-Hinds) specializes in explosion proof and hazardous environments

Joint Ventures

Apex Tool Group

Apex Tool Group was formed in July 2010 as a joint venture of two manufacturers, Danaher Tool Group and the Cooper Hand Tools division of Cooper Industries. The two businesses offer industrial, commercial, and do-it-yourself customers a selection of over 30 leading brands, including Crescent, GearWrench, Armstrong, and Weller. [10]

In October 2012, Danaher Corporation and Cooper Industries sold the Apex Tool Group to Bain Capital for a fee of around $1.6 billion. [11]

Cooper Industries CEOs

See also

Related Research Articles

<span class="mw-page-title-main">ABB</span> Swedish-Swiss multinational robotics and electrical equipment company

ABB Ltd. is a Swedish-Swiss multinational corporation headquartered in Västerås, Sweden, and Zürich, Switzerland. It is traded on the SIX Swiss Exchange in Zürich, the Nasdaq Nordic exchange in Sweden and the OTC Markets Group's pink sheets in the United States. It was ranked 340th in the Fortune Global 500 list of 2020 and has been a global Fortune 500 company for 24 years.

Eaton Corporation plc is an Irish/American multinational power management company, founded in the United States and incorporated Dublin, Ireland, with a primary administrative center in Beachwood, Ohio. Eaton has more than 85,000 employees and sells products to customers in more than 175 countries.

<span class="mw-page-title-main">Alfa Laval</span> Swedish manufacturing company

Alfa Laval AB is a Swedish company, founded in 1883 by Gustaf de Laval and Oscar Lamm. The company started by providing centrifuges to dairies to be used to separate cream from milk. It now deals in the production of specialised products for heavy industry. The products are used to heat, cool, separate and transport such products as oil, water, chemicals, beverages, foodstuffs, starch and pharmaceuticals.

<span class="mw-page-title-main">Atlas Copco</span> Swedish multinational industrial company

Atlas Copco is a Swedish multinational industrial company that was founded in 1873. It manufactures industrial tools and equipment.

<span class="mw-page-title-main">Emerson Electric</span> American multinational corporation

Emerson Electric Co. is an American multinational corporation headquartered in Ferguson, Missouri. The Fortune 500 company manufactures products and provides engineering services for industrial, commercial, and consumer markets. Emerson has approximately 86,700 employees and 170 manufacturing locations.

Eaton MTL is a division of Eaton Corporation which produces electronic instrumentation and protection equipment for telecommunication and process control systems, including power systems, safety interfaces and surge protection. It has manufacturing facilities in Luton, UK; Chennai, India; Melbourne, Florida, USA and Brisbane, Australia.

<span class="mw-page-title-main">TE Connectivity</span> Swiss-domiciled technology company

TE Connectivity Ltd. is an American Swiss-domiciled technology company that designs and manufactures connectors, sensors, relays, contactors, and application tooling for several industries, such as automotive, industrial equipment, data communication systems, aerospace, defense, medical, oil and gas, consumer electronics and energy.

<span class="mw-page-title-main">Dover Corporation</span> American industrial conglomerate corporation

Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under "DOV". Dover was ranked 445 in the 2023 Fortune 500. The company relocated its headquarters to Illinois from New York in mid-2010.

Cooper Wiring Devices is a division of Cooper Industries and provides a range of residential, institutional and industrial grade electrical devices and wiring for consumers and building contractors. The company is the successor to both Arrow-Hart & Hegeman and Eagle Electric, both of which Cooper Industries had acquired. The Arrow-Hart brand is still used by Cooper Wiring Devices for some of their commercial products.

Compression Systems, one of five organizational groups within Cameron International Corporation, is a provider of reciprocating and centrifugal compression equipment and aftermarket parts and services. Reciprocating compression equipment is used throughout the energy industry by gas transmission companies, compression leasing companies, oil and gas producers and independent power producers. Integrally geared centrifugal compressors are used by customers around the world in a variety of industries such as air separation, auto making, glass blowing, PET, petrochemical and chemical. Reciprocating compression was sold to GE Oil and Gas in June 2014.

Chloride is a global company that specializes in the design, production, and maintenance of industrial uninterruptible power supply (UPS) systems to ensure a reliable power supply for critical equipment across multiple industries. Formerly listed on the London Stock Exchange and a constituent of FTSE 250 index, the company has become privately-owned since 2021.

<span class="mw-page-title-main">Wabtec</span> American manufacturing company

Westinghouse Air Brake Technologies Corporation, commonly known as Wabtec, is an American company formed by the merger of the Westinghouse Air Brake Company (WABCO) and MotivePower Industries Corporation in 1999. It is headquartered in Pittsburgh, Pennsylvania.

Ingersoll Rand Inc. is an American multinational company that provides flow creation and industrial products. The company was formed in February 2020 through the spinoff of the industrial segment of Ingersoll-Rand plc and its merger with Gardner Denver. Its products are sold under more than 40 brands across all major global markets.

Apex Tool Group is an American supplier of hand tools and power tools. It was formed as a joint venture of Cooper Industries and Danaher by the merger of Cooper Tools and Danaher's Tools and Components segment. In October 2012, Danaher and Cooper sold Apex to Bain Capital for about $1.6 billion. Apex is headquartered in Sparks, Maryland, and has over 20 factories globally including the United States, Canada, Mexico, Germany, China, and South America.

Crouse-Hinds Electric Company, a manufacturer of high grade electrical specialties, was established in 1897 in Syracuse, New York. They later shortened their name to Crouse-Hinds Company and beginning in the early 1920s specialized in the manufacture of traffic signals, controllers and accessories. The company name remained in use as a subsidiary of Cooper Industries; however, the traffic signal production ended in 1981 after Cooper sold the traffic products division. It is now a division under Eaton Corporation.

<span class="mw-page-title-main">Cameron International</span> American oilfield services company

Cameron International Corporation (formerly Cooper Cameron Corporation (CCC) and Cooper Oil Tool, Cameron Iron Works) though now operating under Schlumberger, is a global provider of pressure control, production, processing, and flow control systems as well as project management and aftermarket services for the oil and gas and process industries. Cameron was acquired by Schlumberger (SLB) in 2016, and now operates as 'Cameron, an SLB Company.' At the start of the SLB acquisition in 2015, Cameron employed approximately 23,000 people and delivered $9.8 billion in revenue.

Belden is a global, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products and solutions. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.

Enpro is a US-based industrial technology company that designs and manufactures products and materials for technology-intensive sectors. The company serves industries such as semiconductors, aerospace, power generation, heavy-duty trucking, agricultural machinery, chemical processing, pulp and paper, and life sciences from 61 primary manufacturing facilities located in 12 countries, worldwide. It is organized under three segments: Sealing Technologies, Advanced Surface Technologies, and Engineered Materials.

<span class="mw-page-title-main">Hubbell Incorporated</span> American company that manufactures and sells electrical and electronic products

Hubbell Incorporated, headquartered in Shelton, Connecticut, is an American company that designs, manufactures, and sells electrical and electronic products for non-residential and residential construction, industrial, and utility applications. Hubbell was founded by Harvey Hubbell as a proprietorship in 1888, and was incorporated in Connecticut in 1905.

Signify N.V., formerly known as Philips Lighting N.V., is a Dutch multinational lighting corporation formed in 2016 as a result of the spin-off of the lighting division of Philips, by means of an IPO. The company manufactures electric lights, light fixtures and control systems for consumers, professionals and the IoT. In 2018, Philips Lighting changed its name to Signify. The company still produces lights under the Philips brand.

References

  1. Cooper Industries Official website
  2. Keller, David N. (1983). Cooper Industries, 1833-1983. Athens, Ohio: Ohio University Press. ISBN   978-0821407523.
  3. Cooper Industries Official website
  4. "Cooper Announces the Acquisition of MTL Instruments Group plc". Feb 2008. Retrieved Jul 27, 2013.
  5. http://www.eaton.com/Eaton/OurCompany/NewsEvents/NewsReleases/PCT_428107 Eaton News Release
  6. "Eaton Completes the Sale of its Lighting Business".
  7. "Cooper Industries Acquisition". Archived from the original on 2014-07-26. Retrieved 2013-06-26. Eaton News Events
  8. Eaton's Bussmann Business Official website
  9. bussmannasia.com
  10. Apex Tool Group Official website.
  11. "Deals of the day -- mergers and acquisitions". Reuters. Reuters. 10 October 2012.