Cooper Industries' transformation from a Bermudian company into an Irish one is complete.

The company completed the final stage in the process by gaining approval from the Supreme Court of Bermuda on Monday.

In a statement yesterday, chairman and chief executive officer Kirk Hachigian said: "Ireland's stable business, legal and regulatory environment, its status as a member of the European Union and its solid network of commercial, tax and other treaties with the US, the European Union and other countries where Cooper has major operations provides us with increased strategic flexibility as we continue to expand the international portion of our business.

"This reorganisation is one of the key proactive measures we are taking to manage our cost structure and remain competitive in global markets so Cooper can continue to reinvest in its business, expand our workforce and develop innovative new products."

As a result of the reorganisation, the public Class A common shareholders of Cooper Industries, Ltd. (the Bermuda company) have become ordinary shareholders of Cooper Industries plc (the Irish company) and Cooper Industries, Ltd. has become a wholly owned subsidiary of Cooper Industries plc.