Here is some more coverage of Eaton Corp.’s announcement Monday that it was acquiring Cooper Industries, which includes Cooper Power Systems in South Milwaukee.
See stories from the Wall Street Journal, Bloomberg, Reuters and The Associated Press.
From the Reuters piece:
Century-old Eaton makes power systems for data centers, hydraulics used in machinery, and truck transmissions. It recorded 2011 sales of $16 billion. It has stepped up acquisitions in recent years, closing nine deals last year.
Cooper, based in Dublin, had 2011 sales of $5.4 billion, with most of its sales to utilities and industrial markets. Its products include safety systems, lighting, circuit protectors and wiring devices used in homes and commercial buildings.
The Cooper acquisition will reduce Eaton’s costs by $260 million a year by 2016, while adding $115 million a year to revenue, Eaton said.
The deal is expected to close in late 2012, Cutler said. The new company will generate some 59 percent of its sales from electrical businesses, with hydraulic, aerospace and truck markets together making up the rest.
And check out these local headlines …
- Oak Creek Man Faces Felony Battery Charge (Oak Creek Patch)
- Man Arrested After Fight With Villa Vista Worker (Oak Creek Patch)
- Fire Chief Has Long History With Oak Creek, Fire Department (Oak Creek Patch)
- Fire Destroys Garage, Damages Home (Oak Creek Patch)
- AutoZone Proposes Second Oak Creek Store (Oak Creek Patch)
South Milwaukee Blog 