Cooper Power Systems Awarded $1.3M in Tax Credits for New Clean-Tech Manufacturing Jobs

January 14, 2010
WAUKESHA, WI

Cooper Power Systems, a division of Cooper Industries plc (NYSE: CBE), today announced that it is the recipient of $1.3 million in Recovery Act Advanced Energy Manufacturing tax credits awarded by President Obama and The White House for clean energy manufacturing projects across the United States. The credits are part of a $2.3 billion package, recognizing one hundred eighty three projects in 43 states, all of which are designed to create high-quality, clean energy jobs and enhance the manufacturing of clean energy technologies including solar, wind and efficiency & energy management.

The Cooper projects for which the tax credits were awarded include $846,180 for modification of the company’s manufacturing facility in Waukesha, Wisconsin, allowing it to produce higher-efficiency transformers. The high efficiency transformers are expected to reduce energy consumption by over 30% as compared to traditional transformers. By 2013, the company estimates the Waukesha project will save customers who choose these products over 60 million kWh/year and approximately 41,592 metric tons of CO2.

Cooper also received a $495,510 tax credit for modification of the company’s facility in Nacogdoches, Texas, allowing it to produce electrical transformers with amorphous steel cores. Amorphous steel core transformers bring an opportunity for Cooper to create additional reductions in worldwide energy and resource consumption.

By 2013, the company estimates the Nacogdoches project will save customers who utilize this technology more than 5.3 million kWh/year and 3,840 metric tons of CO2.

“Cooper Power Systems continues to invest to make the grid smarter, more efficient, and more environmentally friendly,” said Cooper Power Systems group president, Mike Stoessl. “These tax credits will also help us continue to drive the growth of our renewable energy and clean technology efforts.”

About Cooper Power Systems
Cooper Power Systems, Inc., with 2008 revenues of approximately $1.4 billion, is a division of Cooper Industries plc. (NYSE: CBE). Cooper Power Systems is a global manufacturer of world-class power delivery and reliability solutions for the electrical and industrial markets. Through its Energy Automation Solutions group, it is also a leading provider of software, communications and integration solutions that enable customers to increase productivity, improve system reliability, and reduce costs. For more information, please visit www.cooperpower.com.

About Cooper Industries
Cooper Industries plc (NYSE: CBE) is a global manufacturer with 2008 revenues of $6.5 billion, approximately 88% of which are from electrical products. Founded in 1833, Cooper's sustained level of success is attributable to a constant focus on innovation, evolving business practices while maintaining the highest ethical standards, and meeting customer needs. The Company has eight operating divisions with leading market share positions and world-class products and brands including: Bussmann electrical and electronic fuses; CrouseHinds and CEAG explosion-proof electrical equipment; Halo and Metalux lighting fixtures; and Kyle and McGraw-Edison power systems products. With this broad range of products, Cooper is uniquely positioned for several long-term growth trends including the global infrastructure build-out, the need to improve the reliability and productivity of the electric grid, the demand for higher energy-efficient products and the need for improved electrical safety. In 2008, sixty-one percent of total sales were to customers in the industrial and utility end-markets and thirty-seven percent of total sales were to customers outside the United States. Cooper has manufacturing facilities in 23 countries as of 2008. For more information, visit the website at www.cooperindustries.com