Cooper Industries to be sold; low impact for Nacogdoches plant expected
Nacogdoches, TX — A Cooper Industries official hinted on Tuesday that its plant in Nacogdoches may not be significantly affected by the just-announced deal by Eaton Corporation to acquire the electrical-products manufacturer.
“It’s too early to get into a lot of details but, obviously, that has been a facility Cooper has had there for quite some time,” CFO Dave Barta said from Houston. “It’s even recently had some business brought into it. We are certainly committed to that facility.”
According to reports, Eaton of Cleveland, Ohio, will merge with Cooper Industries in a more than $11 billion cash and stock deal, expected to close later this year.
“This is a nice combination of businesses that are complimentary,” Barta said.
Following the merger, the company will likely be named Eaton Global Corp. It will be headquartered in Ireland, Barta said.
The deal, which requires approval of stockholders from both companies and that of the Irish High Court, would create a company that manufactures products for a range of electrical uses, from power grids and lighting to electrical, hydraulic and transmission systems for vehicles, the aerospace industry and the military.