Profile: Columbus McKinnon Corp (CMCO.OQ)
23 Oct 2014
Columbus McKinnon Corporation, incorporated on September 23, 1929, is a global designer, manufacturer and marketer of hoists, rigging tools, cranes, actuators, and other material handling products serving a range of commercial and industrial end user markets. The products include a range of electric, lever, hand and air-powered hoists, hoist trolleys, winches, industrial crane systems such as bridge, gantry and jib cranes; alloy and carbon steel chain; closed-die forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; industrial components, such as mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters; tire shredders; and light-rail systems. The Company is a manufacturer and marketer of hoists, alloy and high strength carbon steel chain and attachments, and actuators in North America. In August 2012, it sold its Gaffey division of Crane Equipment and Service Inc. In March 2014, Columbus McKinnon Corp acquired privately-owned Unified Industries, Inc.
The products are manufactured for stock or assembled to order from standard components and are sold primarily through a range of commercial distributors and directly to end-users. The diverse end users of the products are in a range of industries, including manufacturing, power generation and distribution, utilities, wind power, warehouses, commercial construction, oil exploration and refining, petrochemical, marine, ship building, transportation and heavy duty trucking, agriculture, logging and mining. Its products are sold to over 15,000 general and specialty distributors, end users and original equipment manufacturing (OEMs) globally. The Company also serves the entertainment industry, including permanent and traveling concerts, live theater and sporting venues.
The Company manufactures a range of electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools and air-powered hoists. Load capacities for its hoist product lines range from one-eighth of a ton to 60 tons with up to 140 ton capacity. These products are sold under its Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale and other recognized brands. The Company’s hoists are sold for use in numerous general industrial applications, as well as for use in the construction, energy, mining, food services, entertainment and other markets. It also supplies hoist trolleys, driven manually or by electric motors, for the industrial, consumer and OEM markets. The Company also offers several lines of standard and custom-designed, below-the-hook tooling, clamps, and textile strappings. Below-the-hook tooling, textile and chain slings and associated forgings, and clamps are specialized lifting apparatus used in a range of lifting activities performed in conjunction with hoisting or lifting applications.
Chain and Rigging Tools
The Company manufactures alloy and carbon steel chain for a range of industrial and consumer applications. United States federal regulations require the use of alloy chain, which the Company has developed, for overhead lifting applications because of its strength and wear characteristics. A line of its alloy chain is sold under the Herc-Alloy brand name for use in overhead lifting, pulling and restraining applications. In addition, the Company also sells specialized load chain for use in hoists, as well as three grades and multiple sizes of carbon steel welded-link chain for various load securing and other non-overhead lifting applications.
The Company produces a range of alloy and carbon steel closed-die forged attachments, including hooks, shackles, hitch pins and master links. These forged attachments are used in chain, wire rope and textile rigging applications in a variety of industries, including transportation, mining, construction, marine, logging, petrochemical and agriculture. In addition, it manufactures carbon steel forged and stamped products, such as load binders, logging tools and other securing devices, for sale to the industrial, consumer and logging markets through industrial distributors, hardware distributors, mass merchandiser outlets and OEMs.
The Company participates in the United States crane manufacturing and servicing markets through its offering of overhead bridge, jib and gantry cranes. Its products are sold under the CES, Abell-Howe, Gaffey and Washington Equipment brands. Crane builders represent a specific distribution channel for electric wire rope hoists, chain hoists and other crane components.
Actuators and Rotary Unions
Through the Company’s Duff-Norton and Pfaff divisions, it designs and manufactures industrial components, such as mechanical and electromechanical actuators and rotary unions. Actuators are linear motion devices used in a variety of industries, including the transportation, paper, steel, energy, aerospace and many other commercial industries. Rotary unions are devices that transfer a liquid or gas from a fixed pipe or hose to a rotating drum, cylinder or other device. Rotary unions are used in a range of industries, including pulp and paper, printing, textile and fabric manufacturing, rubber and plastic.
The other category includes tire shredders and light-rail systems. The Company has developed a line of heavy equipment that shreds whole tires, for use in recycling the various components of a tire, including rubber and steel. These recycled products also can be used as aggregate, playgrounds, sports surfaces, landscaping and other such applications, as well as scrap steel.
The Company competes with Konecranes, Demag Cranes, Kito and its United States subsidiary Harrington, Campbell Chain, Peerless Chain Company, American Chain and Cable Company, The Crosby Group, Brewer Tichner Company, Deublin, Joyce-Dayton, Nook Industries, Granutech and Gorbel.
Columbus McKinnon Corp
140 JOHN JAMES AUDUBON PKWY
AMHERST NY 14228-1197