Key Developments For Columbus McKinnon Corporation
Columbus McKinnon Corporation (CMCO.O) (Nasdaq)
Columbus McKinnon Corp. Announces Sale Of American Lifts Business
Columbus McKinnon Corp. announced the sale of certain assets within its American Lifts business to Autoquip Corporation for $2.4 million in cash. The transaction closed on October 30, 2009. Autoquip, based in Guthrie, Oklahoma, designs and manufactures high quality scissor lift tables, vertical ram lifts and dock levelers that will be complemented by the American Lifts brand of versatile engineered lift tables. Autoquip plans to move the manufacturing of the American Lifts products to its Guthrie facility and Columbus McKinnon will close its Greensburg, Indiana, location and plans to sell the facility.
Columbus McKinnon Corp. Acquires Pfaff Beteiligungs GmbH
Columbus McKinnon Corp. announced that it has acquired Pfaff Beteiligungs GmbH (Pfaff-silberblau), a European supplier of lifting, material handling and actuator products. Columbus McKinnon Corp. acquired Pfaff-silberblau from the EQT Opportunity Fund, which is advised by private equity firm EQT Partners, for EUR36 million, or approximately $53 million, effective October 1, 2008.
Columbus McKinnon Corp. To Divest Univeyor Subsidiary
Columbus McKinnon Corp. announced that it has signed a definitive agreement to sell its Univeyor business to a newly formed company established by the owner of a Danish material handling company, in a transaction expected to close on July 25, 2008. Prior to the transfer, the Company will repay Univeyor's debt obligations of approximately $15.2 million. Columbus McKinnon announced its intent to divest Arden, Denmark based Univeyor in January 2008, as the subsidiary's sales channels, business model and margins were not in line with the Company's long-term strategy and performance goals.
Columbus McKinnon Corp. Comments On Long-Term Revenue Outlook
Columbus McKinnon Corp. announced that it will discuss its long-term goal of achieving $1 billion in revenue driving towards an equal balance between domestic and international sales.
Columbus McKinnon Corp. To Evaluate Strategic Alternatives, Including Possible Sale, For Its Univeyor Business
Columbus McKinnon Corp. announced that, although solid progress is being made in advancing the new business model of Univeyor, it has decided to evaluate strategic alternatives, including the potential sale of the business. Columbus McKinnon is currently in the process of selecting a financial advisor to lead the initiative. Univeyor, which is part of the Company's Solutions segment, is a producer and supplier of both standard and custom-designed products and systems for integrated material handling and logistics applications.
