Eaton Corporation completes Cooper Industries acquisition

Diversified industrial manufacturer Eaton has announced that following its acquisition of electrical equipment supplier Cooper Industries plc (NYSE:CBE), Eaton in India hosted welcome days with Cooper employees in the country during their first week with the company.

An Eaton team led by Raja Kochar, managing director – India and Anoop Nanda, managing director – Rest of Asia, Electrical Sector visited the Cooper facilities in Chennai and Pondicherry on December 04 and 05 respectively and addressed the employees as part of the welcome days.

Eaton completed its acquisition of Cooper on November 30, 2012. The acquisition was announced on May 21, 2012 and combines Eaton and Cooper into a new, premier global power management company named Eaton Corporation plc.

“The $13 billion acquisition of Cooper, the largest in Eaton’s 101-year history, is a transformational milestone that expands our market segment reach, broadens our portfolio of products, services, and solutions, and strengthens our global geographic footprint,” said Alexander M. Cutler, Eaton chairman and Chief Executive Officer.

“Cooper adds proven capabilities in utility power distribution, smart grid, lighting, lighting controls, wiring devices, and safety solutions to Eaton’s strengths in power quality, power distribution and energy services,” Cutler said. “These complementary technologies further accelerate Eaton’s growth as a global integrated power management company focused on one of the most challenging megatrends of our time: the rising costs and increasing environmental impact of the world’s growing energy use.”

Combining the results of Eaton and Cooper for the four quarters ending September 30, 2012, Eaton Corporation plc had pro forma revenues of $21.8 billion and EBITDA of $3.3 billion.

“We anticipate the entire integration process will take 24 to 36 months, depending on business conditions” Cutler said.