Dec 7 2007
Cooper Hand Tools, a division of Cooper Industries, Ltd., is the manufacturer of the Crescent(R) brand of adjustable wrenches and other hand tools. The Company is celebrating the 100 year anniversary of both the Crescent(R) brand and the hand tool that has become a staple in the toolboxes of tradesmen and homeowners worldwide. The original company, the Crescent Tool Company, was officially incorporated in 1907.
An example of the significance of this widely recognizable and used tool is the fact that Cooper Industries, Ltd. was recently selected to ring The Closing Bell(SM) at the New York Stock Exchange. This was to honor Cooper's rich heritage of product design and technology innovation and to celebrate the 100th anniversary of the introduction of an industrial icon, the Crescent(R) brand.
"Cooper has a long tradition of serving customers and delivering innovative solutions that create meaningful, lasting value. From our beginnings in 1833 as an iron foundry in Mt. Vernon, Ohio to the global diversified industrial manufacturer that we are today, Cooper has always focused on identifying and meeting the specific needs of the end-markets we serve with market-leading technology," said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian.
Innovation and driving more technology into the product portfolio are critical elements to Cooper's overall corporate strategy.
"As we celebrate our heritage today, we remain committed to the principle that innovation is our lifeblood. At Cooper, we have a strong stable of world- class brands and products, and we will continue to introduce market leading technology and end-user specified solutions that meet our customers' needs," Hachigian said.
The flagship product of the Crescent(R) brand has always been its original adjustable wrench, a remarkably popular tool ever since its introduction 100 years ago. After his historic solo transatlantic flight in 1927, even Charles Lindbergh was quoted as saying he carried only "gasoline, sandwiches, a bottle of water, and a Crescent wrench and pliers." The tool's popularity is due to the fact that it will turn a wide range of different sized nuts and bolts. In effect, this single tool replaces an entire set of dedicated-size wrenches. It is this exceptional versatility and convenience that has made the Crescent(R) brand adjustable wrench such a success.