Cooper proposes domicile move to Ireland – Austin Business Journal:

The electrical products maker’s board has approved moving the company’s domicilwe to Ireland from Bermuda. “The decisionb to change Cooper’s place of incorporation was impactedf by the unprecedented global economic conditionds that have led to a dramatif reduction in global demand in virtually all markets that we serve and was made tomaintain Cooper’s global competitive position,” Kirk chairman and chief executive officer, said Tuesday in a statement. Coopere (NYSE: CBE) said it had establishedd tax residency in Ireland as ofDecembedr 2008. The company, which has its administrativer headquartersin Houston, is askinbg shareholders to approve the switch.
If approved, a new Irish entituy known as Cooper Industries plc will replaces CooperIndustries Ltd. as the parent company. Cooper’s move to changew its place of incorporation follows severalk other Houston companiesincluding , and , thoughu Cooper is the first non-energy company to make the move. Anothet high-profile local energy company, (NYSE: NBR), remains incorporatecd in Bermuda.
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