Cooper Industries, Ltd., Houston, TX, has acquired Hyundai Explosion-Proof Electric Company, a South Korea-based manufacturer of explosion-proof electrical equipment.
HEPEC specializes in explosion-proof Glass Reinforced Plastic lighting, control panels and switchgear and its products are complementary to the current Cooper Crouse-Hinds product offerings.
The acquisition provides Cooper with increased access to the South Korean market, with its strong shipbuilding industry and where significant investment to upgrade domestic energy and petrochemical infrastructure is underway.
The HEPEC acquisition is the eighth deal announced by Cooper in 2007.
Cooper Industries is a global manufacturer with 2006 revenues of $5.2 billion, about 85% of which are from electrical products.
(Source: Modern Distribution Management - www.mdm.com)