Cooper Acquires UK Lighting Controls Producer Polaron

Cooper Industries, Ltd. announced Wednesday that its subsidiary, Cooper Controls (UK) Ltd., has acquired over 93 percent of the outstanding shares of Polaron plc, a UK-based manufacturer of intelligent lighting control products, for a total purchase price of $28.68 million.

Cooper Controls is exercising its right to acquire the remaining outstanding shares.

Polaron had consolidated revenues of $45.76 million for the year ended June 30, 2006.

According to Cooper Industries Chairman and CEO, Kirk S. Hachigian, the Polaron acquisition will enable Cooper to have a stronger presence in the global lighting controls market.

Cooper Industries had 2006 revenues of $5.2 billion, of which 85 percent was from electrical products.