Cooper proposes domicile move to Ireland - bizjournals:

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The electrical products maker’s board has approved moving the company’ s domicile to Ireland from Bermuda. “The decision to change Cooper’s place of incorporation was impacted by the unprecedenterd global economic conditions that have led to a dramatic reduction in globao demand in virtually all markets that we serv and was made tomaintaimn Cooper’s global competitive position,” Kirk Hachigian, chairman and chief executive officer, said Tuesda y in a statement. Cooper (NYSE: CBE) said it had establishedx tax residency in Ireland as ofDecember 2008. The which has its administrative headquartersin Houston, is askingh shareholders to approve the switch.
If a new Irish entity known as Cooper Industriesa plc will replace CooperIndustries Ltd. as the parengt company. Cooper’s move to change its place of incorporatioh follows several other Houston companiesincludinh , and , though Cooper is the first non-energy company to make the move. Anothe r high-profile local energy company, (NYSE: NBR), remains incorporatedr in Bermuda.