Cooper Industries, Houston, and diversified manufacturer Danaher Corp. have agreed to form a joint venture to blend operations of some of their tool manufacturing businesses. Cooper and Danaher each will own 50 percent of the new company. It will include ...
Cooper Industries, Houston, and diversified manufacturer Danaher Corp. have agreed to form a joint venture to blend operations of some of their tool manufacturing businesses. Cooper and Danaher each will own 50 percent of the new company. It will include Cooper's portfolio of power tools products, wireless technologies and hand tools and Danaher's mechanic's hand tools businesses.
Under the agreement, the new company will make a $90 million dividend payment to Danaher, which is based in Washington, D.C. The agreement is pending regulatory approvals and is expected to close in the second quarter. The joint venture should generate revenue topping $1.2 billion, with worldwide sales and an improved cost position, Kirk S. Hachigian, chairman and CEO of Cooper Industries, said in a statement. Details
Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement.
Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.
