COOPER INDUSTRIES CONSIDERS THE SALE OF ITS KIRSCH DIVISION.HOUSTON--(BUSINESS WIRE)--Sept. 16, 1996--Cooper Industries, Inc. (NYSE NYSE See: New York Stock Exchange :CBE CBE Commander of the Order of the British Empire (a Brit. title) CBE n abbr (= Companion of (the Order of) the British Empire) → título de nobleza CBE n abbr (= ) announced that it has engaged Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. & Company to
review strategic alternatives related to its Kirsch kirsch n. A colorless brandy made from the fermented juice of cherries. [French, short for German Kirschwasser; see kirschwasser. Division, including a possible sale. A leading manufacturer of drapery hardware and custom window coverings, Kirsch was acquired by Cooper in 1981. In announcing this action, H. John Riley, Jr., Cooper's Chairman, President and Chief Executive Officer, said: "The window treatments industry has changed over the past several years, evolving into more of a fashion business. While Kirsch is responding to this shift by introducing many new product lines, Cooper's primary focus remains on basic, value-added manufacturing. Our decision to review alternatives related to the Kirsch business is one of several initiatives Cooper has recently taken to enhance its financial position," Riley explained. Headquartered in Sturgis, Michigan, Kirsch has seven manufacturing and fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. facilities in the United States, six facilities in international locations and more than 2,400 employees. In 1995, worldwide revenues for Kirsch were approximately $260 million. Cooper Industries, with 1995 revenues of $4.9 billion, is a diversified, worldwide manufacturer of electrical products, tools and hardware, and automotive products. CONTACT: Cooper Industries, Inc. Phyllis Piano, 713/209-8415 John Breed, 713/209-8835 |
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