Within the past month, Cooper Industries and Danaher Tool Group have announced they will combine certain aspects of their tool manufacturing businesses to create a global tool company.
Details of the agreement have not been published but each company will own equal halves of the company and will include elements of Danaher’s mechanic hand tools and Cooper’s hand and power tools as well as their wireless technologies. The goal of the new company is to offer a comprehensive tool portfolio on a greater scale with very little overlap.
This deal is still pending approval from regulatory bodies but a final decision should be announced sometime during the second quarter of 2010.
Be on the lookout for updates to this arrangement. Both companies are innovative and powerful; it will be interesting to see what the two companies can accomplish once they join forces.
Danaher is a Washington D.C. based company that creates and manufactures products for a variety of industries including medical, industrial, commercial and professional. Well known Danaher brands include Fluke, Allen, Armstrong, GearWrench and many others. Danaher Tool Group’s News Release
Cooper Industries was founded in 1833 and since then, the company has created eight divisions such as Cooper Bussmann, Cooper Lighting, Cooper Safety and more. Known Cooper brands carried by All-Spec include Weller, Erem, Kahnetics, Xcelite, Apex, Utica and several others. Cooper Industries’ News Release
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