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Hubbell To Buy Cooper Power Hardware Business
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Business New Haven
9/30/2002
By: BNH
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ORANGE Hubbell Inc. (NYSE: HUBa, HUBb) has agreed to acquire the pole line hardware product line of Cooper Industries Ltd.1s power systems unit for $8.7 million in cash. The purchase price is subject to adjustment at closing, which is expected in about 60 days.
Hubbell said it will purchase product inventories and materials, production equipment, tool and dies and related equipment. The deal does not include production facilities and real estate.
Pole line hardware products are used in the construction and maintenance of electric utility transmission and distribution lines. Hubbell makes electrical and electronic products.
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