Polaron plc is pleased to announce the acquisition of its business by Cooper Controls (UK) Ltd., a subsidiary of the US Fortune 500 company Cooper Industries. Polaron, via its iLight and Zero 88 business units, is a market leader in the architectural and entertainment lighting controls markets.
Joe Stelzer, Chief Executive of Polaron plc commented: "We are excited about the future of our business and the synergies that being part of Cooper Controls will bring in our mission to become a global lighting controls company based in the UK."
"We are committed to maintaining our focus on innovation in the controls market and look forward to harnessing the world class operational experience and research and development capabilities of our new colleagues at Cooper Controls."
"iLight has experienced significant growth over the past two years thanks to the investments made by Polaron plc," said John Thorne, iLight's UK Sales Director. "With innovative new products under development and the support of Cooper Controls, I am looking forward to an exciting future for iLight."
iLight will continue to operate from its offices in Penshurst, Kent, with manufacturing carried out at its purpose-built facility in Cwmbran, Wales.
About Cooper Industries
Cooper Industries, Ltd. is a global manufacturer with 2006 revenues of $5.2 billion, approximately 85 percent of which are from electrical products. Incorporated in Bermuda with administrative headquarters in Houston, Cooper employs approximately 31,000 people and operates eight divisions: Cooper B-Line, Cooper Bussmann, Cooper Crouse-Hinds, Cooper Lighting, Cooper Menvier, Cooper Power Systems, Cooper Wiring Devices and Cooper Tools Group.
Date: 30 March 2007
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