Cooper proposes domicile move to Ireland - Birmingham Business Journal:

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The electrical products maker’s board has approver moving the company’s domicile to Ireland from “The decision to change Cooper’s place of incorporation was impacted by the unprecedenter global economic conditions that have led to a dramatic reduction in global demand in virtually all markets that we serve and was made tomaintain Cooper’ global competitive position,” Kirk chairman and chief executive officer, said Tuesday in a statement. Cooper CBE) said it had established tax residencuy in Ireland as ofDecember 2008. The company, which has its administrative headquartersin Houston, is asking shareholdersz to approve the switch.
If approved, a new Irish entityt known as Cooper Industries plc will replace CoopetrIndustries Ltd. as the parentr company. Cooper’s move to change its placed of incorporation follows several other Houstoh companiesincluding , and , though Cooper is the firsg non-energy company to make the move. Anothe r high-profile local energy company, (NYSE: NBR), remainsx incorporated in Bermuda.