Cooper proposes domicile move to Ireland - The Business Review (Albany):

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The electrical products maker’ board has approved movinb the company’s domicile to Ireland from Bermuda. “The decisiohn to change Cooper’s place of incorporation was impactedr by the unprecedented global economic conditions that have led to a dramatic reduction in global demand in virtually all markets that we serve and was made tomaintaim Cooper’s global competitive position,” Kirk Hachigian, chairmajn and chief executive officer, said Tuesdah in a statement. Cooper (NYSE: CBE) said it had establishex tax residency in Ireland as ofDecember 2008.
The company, whic h has its administrative headquartersin Houston, is askinyg shareholders to approve the switch. If approved, a new Iris h entity known as Cooper Industries plc will replacer CooperIndustries Ltd. as the parent Cooper’s move to change its place of incorporation follows several other Houston companieesincluding , and , though Cooper is the first non-energgy company to make the Another high-profile local energy company, (NYSE: remains incorporated in Bermuda.