COOPER ACQUIRES OUTSTANDING SHARES OF HOME FITTINGS ESPANA, S.A.
HOUSTON, Dec. 7 /PRNewswire/ -- Cooper Industries, Inc. (NYSE: CBE) announced that it has acquired the remaining outstanding shares of Home Fittings Espana, S.A. (HOFESA) from several private investors. Cooper previously owned 41.5 percent of HOFESA, which is headquartered in Vitoria, Spain. HOFESA manufactures a full line of drapery hardware products and fabricates alternate window treatments, such as venetian and vertical blinds, for sale primarily in Spain, Portugal, Italy, France and England. Annual revenues are approximately $50 million. HOFESA's headquarters and main manufacturing facility are located in Vitoria, Spain. It has additional distribution and fabrication locations throughout the Iberian peninsula and in Italy, England and France. HOFESA will become part of the Kirsch Division of Cooper. It has been a licensee for Kirsch(R) drapery hardware in Spain since the early 1950s. The addition of HOFESA complements Kirsch's other European operations, including AB Sani Maskiner (Sweden), Kirsch Italia, Stewart Hartshorn (U.K.) and an interest in Acrimo AB (Scandinavia, Italy, France and England). Cooper Industries, with 1992 revenues of $6.2 billion, is a diversified, worldwide manufacturer of electrical products, electrical power equipment, tools and hardware, automotive products, and petroleum and industrial equipment. -0- 12/7/93 /CONTACT: Ellen H. Orsburn, director, corporate communications, Cooper Industries, 713-739-5423/ (CBE)
CO: Cooper Industries, Inc.; Home Fittings Espana, S.A. ST: Texas IN: HOU SU: TNM
LG -- NY024 -- 1233 12/07/93 11:08 EST
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|Date:||Dec 7, 1993|
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