Conclusion of Justice Department's review clears way for sale of Cooper's Kirsch business to Newell.FREEPORT, Ill.--(BUSINESS WIRE)--May 12, 1997--Newell Co. (NYSE NYSE See: New York Stock Exchange :NWL NWL Newell Rubbermaid, Inc. (stock symbol) NWL Northwest League (Boise, Idaho; baseball) NWL Northwoods League NWL North West London NWL Neverending White Lights (band) ) and Cooper Industries, Inc. (NYSE: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 (= ) jointly announced today that the Department of Justice has concluded its investigation of the sale of Cooper's Kirsch kirsch n. A colorless brandy made from the fermented juice of cherries. [French, short for German Kirschwasser; see kirschwasser. business to Newell. Cooper and Newell announced that Cooper had signed a letter of intent to sell Kirsch to Newell on January 30, 1997. Kirsch manufactures and distributes drapery hardware and custom window coverings in the United States and internationally. The parties will close the transaction as soon as certain other conditions are satisfied, which is anticipated to be in early June. Headquartered in Sturgis, Michigan, Kirsch has eight manufacturing and fabrication facilities in North America, five facilities in international locations and more than 2,400 employees. Cooper Industries, with 1996 revenues of $5.3 billion, is a diversified, world-wide manufacturer of electrical products, tools and hardware and automotive products. Newell manufactures and markets high-volume staple consumer products which are sold through a variety of retail and wholesale distribution channels. Product categories include housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. , hardware and tools, home furnishings, and office products. Revenues in 1996 were $2.9 billion. CONTACT: Newell Co., Freeport Ross A. Porter, Jr., 815/235-4171 |
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