The National Association of Electrical Distributors has announced a $250,000 commitment by Cooper Industries to the NAED Education & Research Foundation.
"For well over 100 years, Cooper has partnered with electrical distributors to jointly serve our end-user customers," says Kirk Hachigian, president and chief operating officer of Cooper Industries. "With an ever-changing, more complex global economy, it is imperative that we continue to work together to leverage technology to jointly improve our supply chain efficiencies and introduce new products and services which expand our overall market opportunities. We believe both of these activities are vital to our industry's long-term prosperity."
The origins of Cooper Industries extend back more than 170 years to a small iron foundry in Mount Vernon, OH, started by brothers Charles and Elias Cooper in 1833. Today, Cooper Industries manufactures electrical products, tools and hardware. Cooper manufactures thousands of products through its seven electrical product divisions, which generate more than 80% of annual revenues; and two tool divisions, which produce power tool and hand tool lines. Headquartered in Houston, TX, Cooper has annual revenues of approximately $4.1 billion, employs more than 27,000 people and operates more than 100 manufacturing facilities around the world.
"We appreciate Cooper Industries' investment in the foundation," says Bill Elliott, chairman of the Channel Advantage Partnership Council and president of Elliott Electric Supply in Nacogdoches, TX. "This contribution continues Cooper's tradition of supporting the industry.
"The company has contributed to the foundation's Annual Campaign for 29 years," Elliott continues. "As endowed funds accumulate over the next five years, the goal is to transition the foundation to a self sustainable funding model. We appreciate Kirk Hachigian's commitment to this goal, and his personal involvement with the foundation's Blue Ribbon Panel."
The company's donation will become part of an endowment fund for the NAED Education & Research Foundation. The principal amount of the endowment will remain untouched, while the interest will be used to commission future projects and research studies. As a contributor of $250,000, Cooper Industries will be recognized at the guarantor level and have a permanent position on the Channel Advantage Partnership Council, which will help select future educational programs and research projects.
NAED is based in St. Louis, MO. For more information visit www.naed.org.