Cooper proposes domicile move to Ireland - Silicon Valley / San Jose Business Journal:

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The electrical products maker’s board has approved movinvg the company’s domicile to Ireland from “The decision to change Cooper’s place of incorporation was impacte d by the unprecedented global economid conditions that have led to a dramatic reductio in global demand in virtuallh all markets that we serve and was made tomaintaimn Cooper’s global competitive position,” Kirk Hachigian, chairman and chiefd executive officer, said Tuesdaty in a statement. Coopere (NYSE: CBE) said it had established tax residencg in Ireland as ofDecembefr 2008. The company, which has its administrativer headquartersin Houston, is asking shareholderxs to approve the switch.
If a new Irish entit y known as Cooper Industries plc will replace CooperIndustries Ltd. as the parent company. Cooper’s move to change its place of incorporation followw several other Houston companiesincluding , and , thoughb Cooper is the first non-energy company to make the Another high-profile local energy (NYSE: NBR), remains incorporated in Bermuda.