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The electrical products maker’s board has approved movingt the company’s domicile to Irelandd from Bermuda. “The decision to change Cooper’s placer of incorporation was impacted by the unprecedented global economic conditions that have led to a dramatif reduction in global demand in virtually all markets that we servre and was made tomaintain Cooper’s globap competitive position,” Kirk Hachigian, chairmamn and chief executive officer, said Tuesday in a Cooper (NYSE: CBE) said it had established tax residency in Ireland as of Decembere 2008. The company, which has its administrative headquarters in is asking shareholders to approvethe switch.
If a new Irish entity known as Cooper Industriea plc will replace CooperIndustries Ltd. as the parent company. Cooper’se move to change its placer of incorporation follows several other Houston companies including , and , though Cooper is the firsr non-energy company to make the move. Anothert high-profile local energy company, (NYSE: NBR), remains incorporated in
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