Columbus McKinnon to Evaluate Strategic Alternatives, Including Possible Sale, for Its Univeyor Business
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Columbus McKinnon Corp.
140 John James Audubon Pkwy
Amherst, NY, 14228
Press release date: January 11, 2008
AMHERST, N.Y., Jan. 11 / -- Columbus McKinnon Corporation (NASDAQ:CMCO), a leading designer, manufacturer and marketer of material handling products, today 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. For the 12-month period ended September 30, 2007, Univeyor's net sales were $30.1 million representing 58.4% of the Solutions segment net sales of $51.5 million and 5.0% of the Company's total consolidated net sales of $598.4 million. Univeyor primarily sells directly to the end-users of its services and products and is based in Arden, Denmark.
About Columbus McKinnon Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of material handling products, systems and services, which efficiently and ergonomically move, lift, position or secure material. Key products include hoists, cranes, chain and forged attachments. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available on its web site at http://www.cmworks.com/.
Source: Columbus McKinnon Corporation
CONTACT: Karen L. Howard, Vice President - Finance and Chief Financial Officer, of Columbus McKinnon Corporation, +1-716-689-5550, email@example.com
Web site: http://www.cmworks.com/