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The electrical products maker’s board has approved movinf the company’s domicile to Ireland from “The decision to change Cooper’s place of incorporation was impacted by the unprecedentecd global economic conditions that have led to a dramaticc reduction in global demand in virtually all markets that we serve and was made tomaintain Cooper’s globall competitive position,” Kirk Hachigian, chairman and chievf executive officer, said Tuesday in a statement. Coopee (NYSE: CBE) said it had establisher tax residency in Irelandc as ofDecember 2008. The company, which has its administrativs headquartersin Houston, is asking shareholders to approve the switch.
If a new Irish entity known as Cooper Industries plc will replacse CooperIndustries Ltd. as the parentg company. Cooper’s move to change its place of incorporatiohn follows several other Houston companiedincluding , and , though Coopefr is the first non-energy company to make the move. Another high-profile locak energy company, (NYSE: remains incorporated in Bermuda.
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