MRO Magazine

News

Crescent tool brand is 100 years old

Barrie, ON -- Cooper Hand Tools-Canada is celebrating, with its parent company, Cooper Industries, Ltd., the 100th ...


Barrie, ON — Cooper Hand Tools-Canada is celebrating, with its parent company, Cooper Industries, Ltd., the 100th anniversary of the introduction of an industrial icon, the Crescent brand.

On April 25, 2007, Cooper Industries rang The Closing BellSM at the New York Stock Exchange in New York City in honour of Cooper’s rich heritage of product design and technology innovation and to celebrate the Crescent tool anniversary.

“Cooper has a long tradition of serving customers and delivering innovative solutions that create meaningful, lasting value,” said Cooper Industries chairman and chief executive officer Kirk S. Hachigian. “From our beginnings in 1833 as an iron foundry in Mt. Vernon, Ohio, to the global diversified industrial manufacturer that we are today, Cooper has always focused on identifying and meeting the specific needs of the end-markets we serve with market-leading technology.

“Innovation and driving more technology into the product portfolio are critical elements to Cooper’s overall corporate strategy. In addition, Cooper is focused on growing the company and returning sustainable shareholder value by leveraging a world-class product portfolio across diverse end-markets, focused international expansion and a disciplined acquisition strategy.

“As a result of this strategy, Cooper delivered the strongest financial performance in its history and shareholders saw a total return of 26% in 2006, and three-year and five-year compound annual total returns of 18% and 24%, respectively.

“As we celebrate our heritage today, we remain committed to the principal that innovation is our lifeblood. At Cooper, we have a strong stable of world-class brands and products and we will continue to introduce market-leading technology and end-user specified solutions that meets our customers’ needs.

Cooper Industries, Ltd. is a global manufacturer with 2006 revenues of $5.2 billion, approximately 85% of which are from electrical products. Incorporated in Bermuda with administrative headquarters in Houston, Tex., Cooper employs approximately 31,000 people and operates eight divisions: Cooper B-Line, Cooper Bussmann, Cooper Crouse-Hinds, Cooper Lighting, Cooper Menvier, Cooper Power Systems, Cooper Wiring Devices and Cooper Tools Group. Cooper Connection provides a common marketing and selling platform for Cooper’s sales to electrical distributors.

For more information, visit the website at www.cooperindustries.com.