Cooper Industries Ltd.

An agreement has been reached with Cooper Industries Ltd. that will settle the electrical products maker's asbestos liabilities. The liability claims arose from Cooper's former Abex Friction Products business, which Cooper sold to Federal Mogul Corp Cooper Industries Ltd. Cooper has agreed to pay $256 million in cash into the claimants' trust on the date Federal-Mogul emerges from bankruptcy. It will also make 25 annual payments of up to $20 million each into the trust. (Jul-07-06)

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Published on Jul-11-06