Cooper Industries, Houston, and Danaher Corp., Washington, D.C., have signed an agreement to combine certain operations of their respective tools manufacturing businesses in a joint venture to create a global business with leading brands, greater scale and a more diversified product portfolio.
Cooper and Danaher each will own a 50-percent share of the new company and will have equal representation on the joint venture’s board. The 2009 sales of the two tools businesses on a combined,
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