Cooper Electronic Technologies Inc history

When Elias Cooper died in 1848, Charles Cooper took a succession of partners, and with each the company name changed accordingly.

Mount Vernon was linked to the rest of the nation by the railroad in 1851 and the following year Cooper was able to ship its first steam-powered compressors for blast furnaces.

1852: Cooper ships its first steam-powered compressors for blast furnaces by railway.

1869: The firm becomes the first Western company to produce the Corliss engine.

Cooper management recognized the necessity of focusing on a small segment of the market, and in 1900 it wisely chose to make a gradual change to natural-gas internal-combustion engines, which were being used successfully at the compression stage of pipeline transmission.

Not long after Charles Cooper's death in 1901, it became clear that steam turbine engines were destined to replace the Corliss engine.

1908: Coopers begins a gradual shift from Corliss to natural gas internal-combustion engines.

The Line Material Company, founded in 1911, grew to be a major force in the electrical manufacturing industry as manufacturers of fuses, switches, line hardware, arresters, transformers and more.

In 1919, C.G. Cooper became chairman and Desault B. Kirk, the company’s treasurer, became president.

The office was opened on October 23, 1929, at the very beginning of the Great Depression.

1944: The company lists on the New York Stock Exchange.

It formed an international sales office and announced its first sales-service branch outside the United States, in Caracas, Venezuela, in 1945.

Miller had begun at Cooper-Bessemer in 1946.

Founded in 1947 under the name of Rural Transformer and Equipment Company, RTE developed many advances that significantly changed industry practices in underground distribution.

In 1952 it merged with Pennsylvania Transformer Company.

While the company was rebuffing a 1955 takeover attempt by a private investor named Robert New, Lefebvre resigned unexpectedly, and Lawrence Williams, Beatty Williams’s son, became president.

Due to revitalized demand, sales bounced back in 1956 to a record high of $61.2 million, but it was becoming increasingly clear that Cooper-Bessemer needed to diversify in order to avoid the cyclical pitfalls of energy-related manufacturing.

Thomas A. Edison, Inc., one of Thomas Edison’s original companies, combined with McGraw Electric Company in 1957 to form McGraw-Edison.

Over the next few years Cooper-Bessemer struggled to develop an engine to meet the challenge of General Electric's new combustion gas turbine engine, which threatened to supplant several of Cooper's engines in the pipeline transmission market. Its efforts resulted in the world's first industrial jet-powered gas turbine, introduced in 1960.

Lured to the company from Standard Oil New Jersey (now Exxon) in 1961, Cizik started his career at Cooper as executive assistant for corporate development.

In 1964 it opened an office in Beirut and also formed a wholly owned British subsidiary, Cooper-Bessemer (U.K.), Ltd.

To better reflect its nature, it changed its name to Cooper Industries, Inc. in December, 1965.

When RTE received a patent on the 15 kV loadbreak elbow design in 1966, its potential growth was probably unrealized at the time.

Cooper acquired Lufkin Rule Company of Saginaw, Michigan, in 1967.

1970: Cooper branches out into aircraft services with the acquisition of Dallas Airmotive.

1976: The White Superior Engine division of the White Motor Company is purchased.

1979: Cooper acquires the Gardner-Denver Company; sales reach $1 billion.

1981: The firm continues expansion efforts and purchases Crouse-Hinds Company, an electrical products manufacturer, and Belden Corporation, a wire and cable manufacturer.

McGraw-Edison Power Systems joined Cooper in 1985.

In 1988, Cooper acquired RTE Corporation, a Wisconsinbased manufacturer of electrical distribution equipment, and Beswick, a manufacturer of fuses and related products in the United Kingdom.

In 1991, three Canadian-based businesses were acquired.

1992: Cooper purchases Ferramentas Belzer do Brasil, a Brazilian-based handtool maker.

In 1994, Cooper Power Systems acquired Combined Technologies Inc. to expand their product offerings in current-limiting fuses.

Acquisitions Culminate in 1995 Merger

In June 1996, the company acquired Ingram Cactus Corporation, a manufacturer of oil and gas production valves and actuators.

1997: Cooper completes eight acquisitions throughout the year.

In 1998, Orbit Valve International Inc. was added to its holdings in a $100 million deal.

During 1999, the firm acquired ten firms and significantly expanded its reach in European markets.

The firm made several key acquisitions in 2000, including the B-Line Systems business of Aldrich Corp. and Eagle Electric Manufacturing, which was incorporated into the company's Wiring and Devices division.

In 2001, the company closed its Springfield, Ohio, manufacturing plant, signaling its exit from the Superior brand natural gas engine market.

In an attempt to streamline its operations, the company restructured into three business segments in 2002.

In May 2003, rumors began to surface that Cooper Cameron planned to make a $1 billion play for competitor Vetco Gray Inc., a subsidiary of industrial conglomerate ABB Ltd.