Cooper acquires LED and Lighting Controls Businesses
28-08-07
Cooper Industries has acquired Illinois-based io Lighting, a dedicated light-emitting diode lighting fixture company, and Vermont-based Powerline Communications (PCI), a manufacturer of digital lighting control panels. Expected sales for the two companies in 2007 are approximately $17 million and the combined purchase price is $22 million. io Lighting designs manufactures technically advanced, environmentally friendly LED luminaries for the lighting design and architecture industries. PCI is a provider of Energy Management Systems products such as networked lighting controls relay panels. Cooper Industries is a manufacturer with 2006 revenues of $5.2 billion, approximately 85 percent of which are from electrical products.