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Hubbell Acquires Kurt Versen
ORANGE, Conn.--(BUSINESS WIRE)--Hubbell Incorporated today announced the acquisition of the Kurt Versen Company. The purchase price was approximately $100 million in cash.

Located in Westwood, NJ, Kurt Versen manufactures specification-grade lighting fixtures for a full range of office, commercial, retail, government, entertainment, hospitality and institution applications. The company is an integrated manufacturer with design and production in its 125,000 square foot facility.

Kurt Versen is nationally recognized by lighting consultants, architects, engineers, and other lighting specifiers for providing industry-leading lighting solutions characterized by superior visual aesthetics, photometric performance, and mechanical design. The company's lighting fixtures are incorporated in hundreds of prominent projects and numerous high-profile installations, including the United Nations General Assembly, the Los Angeles International Airport and the U.S. Supreme Court.

Kurt Versen's focus on architectural specification-grade products for high-end applications delivers a broad offering to build and maintain strong relationships with key industry participants, including lighting specifiers, contractors, electrical distributors and manufacturers' agents. The acquisition enhances Hubbell Lighting's package of 16 excellent premium lighting brands, including such respected brands as Kim Lighting, Architectural Area Lighting, Alera Lighting, and Sportsliter Solutions. The addition of Kurt Versen greatly strengthens Hubbell Lighting's position in the key spec-grade downlighting market segment.

“Kurt Versen is very complementary to Hubbell Lighting, and will be accretive to Hubbell's 2008 results,” said Timothy H. Powers, President and CEO of Hubbell. “Kurt Versen is the preferred brand in specification-grade downlighting with significant brand awareness and a preference built over the company's seventy year history. The company's reputation is built upon consistently introducing innovative fixtures to the market, its steadfast commitment to quality and its ability to expedite delivery of customized fixtures. This is a major addition to our current offering of both Prescolite and Progress brands, which extends our product breadth and depth through all segments of the non-residential and residential lighting markets.”

Hubbell Lighting, Inc. is a subsidiary of Hubbell Incorporated. Hubbell Incorporated is an international manufacturer of quality electrical and electronic products for commercial, industrial, residential, utility, and telecommunications markets. With 2006 revenues of $2.4 billion, Hubbell Incorporated operates manufacturing facilities in the U.S., Canada, Puerto Rico, Mexico, Italy, Switzerland, Brazil, Australia and the United Kingdom, participates in joint ventures in Taiwan and the People's Republic of China, and maintains sales offices in Singapore, Hong Kong, South Korea, the People's Republic of China, Mexico, and the Middle East. The corporate headquarters is located in Orange, CT.

Hubbell Incorporated
Thomas R. Conlin, 203-799-4100

Source: Hubbell Incorporated