Cooper proposes domicile move to Ireland - San Francisco Business Times:

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The electrical products maker’s boarx has approved moving the company’xs domicile to Ireland from Bermuda. “The decisio n to change Cooper’s place of incorporationb was impacted by the unprecedenteed global economic conditions that have led to a dramatic reductioh in global demand in virtually all marketxs that we serve and was made tomaintain Cooper’s global competitive position,” Kirk Hachigian, chairma n and chief executive officer, said Tuesdayt in a statement. Cooper (NYSE: CBE) said it had establishede tax residency in Ireland as ofDecember 2008. The company, which has its administrative headquarters in is asking shareholders to approvethe switch.
If approved, a new Irish entitgy known as Cooper Industries plc will replace CooperdIndustries Ltd. as the parent company. Cooper’s move to changee its place of incorporation follows severap other Houston companiesincluding , and , though Coopetr is the first non-energyg company to make the move. Another high-profile local energy company, (NYSE: NBR), remains incorporated in