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Crane Co.

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Not to be confused with Crane and Company.
Crane Co.
Company typePublic company
NYSE: CR
IndustryIndustrial conglomerate
FoundedChicago, Illinois (1855)
FounderRichard T. Crane
HeadquartersStamford, Connecticut,
United States
Key people
Robert S. Evans, Chairman
Max Mitchell, President & CEO[1]
ProductsAerospace & Electronics, Engineered Materials, Merchandising Systems, Fluid Handling, Sensing & Control Systems
RevenueUS$3.0 billion
Number of employees
11,000
Websitewww.craneco.com
Crane Co. headquarters in Stamford

The Crane Company is an American industrial products company based in Stamford, Connecticut. Founded by Richard Teller Crane, it became a holding company with a diverse portfolio. Its business segments are Aerospace & Electronics, Engineered Materials (fiberglass paneling and telecom equipment), Merchandising Systems (vending machines), Fluid Handling, and Controls (sensing and control systems). Industries served by these segments includes: chemical industries, commercial construction, food and beverage, general and commercial aviation, and power generation. The company was one of the leading manufacturers of bathroom fixtures until 1990, when that division was sold off; it now operates as a brand of American Standard Brands.

The company is best known to the consumer public as a large manufacturer of vending machines. Crane Co. has expanded their lineup of snack machines via their acquisitions of Glasco Polyvend Lektrovend (GPL) and Automatic Products (APi), which continue to be marketed as separate brands from Crane Co.'s National line. Crane Co. has also acquired Dixie-Narco from Maytag, adding a full lineup of soda machines to Crane Co.'s portfolio.

Products

  • Controls (diagnostic, measurement, and control devices)
  • Industrial
    • Aerospace components (sensing and control systems)
    • Engineered materials (Fiberglass Reinforced Plastic Wall & Ceiling Systems, Exteriors of RV sidewalls, Transportation Interiors)
    • Fluid handling equipment (valves and pumps)
  • Merchandising systems (vending machines)
    • Automatic Payment Systems (Crane Payment Innovations, the result of merging former Crane Payment Systems and MEI)

Subsidiaries

  • Crane Aerospace & Electronics
    • Aerospace Group (Lynnwood, Washington)
      • Burbank, California (Hydro-Aire and P. L. Porter)
      • Elyria, Ohio (Lear Romec)
      • Lynnwood, Washington (ELDEC)
      • Lyon, France (ELDEC France)
    • Electronics Group (Redmond, Washington)
      • Beverly, Massachusetts (Signal Technology)
      • Chandler, Arizona (Signal Technology)
      • Fort Walton Beach, Florida (Keltec)
      • Redmond, Washington (Interpoint)
      • West Caldwell,New Jersey (Merrimac Industries)
  • Crane Composites
    • Florence, Kentucky (Lasco)
    • Goshen, Indiana (Noble & Fabwel)
    • Joliet, Illinois (Kemlite)
    • Jonesboro (Kemlite)
  • Crane Electronics (headquarters located in Redmond, Washington)
    • Albuquerque, New Mexico (General Technology Corporation)
    • Beverly, Massachusetts (Signal Technology)
    • Chandler, Arizona (Signal Technology)
    • Fort Walton Beach, Florida (Keltec)
    • Lynnwood, Washington (ELDEC)
    • Lyon, France (ELDEC France)
    • Redmond, Washington (Interpoint)
    • Taiwan (Interpoint)
  • Fluid Handling
    • Crane ChemPharma Flow Solutions
    • Crane Energy Flow Solutions
    • Crane Australia
    • Crane Stockham Valve Ltd. (Belfast)
    • Crane Limited
    • Crane Process Flow Technologies (CPFT)
    • Crane Pumps and Systems (CP&S)
    • Crane Supply
    • Crane Valves North America (CVNA)
    • Pacific Valves
    • Resistoflex Industrial
    • Valve Services
    • Xomox
    • Crane Nuclear, Inc.
    • Friedrich Krombach GmbH Armaturenwerke
    • Armature d.o.o. (Slovenia)
    • Croning Livarna d.o.o.(Slovenia)
    • W.T. Armatur GmbH
    • Controls
      • Azonix
      • Barksdale
      • Crane Environmental (with brands Cochrane, Chicago Heater and Environmental Products) - since divested to Newterra
      • Fort Lauderdale, Florida (Dynalco)
      • WMS
  • Crane Merchandising Systems

Asbestos Liabilities

As of December 31, 2007, Crane Company faced 80,999 asbestos liability claims. In 2007, the company set aside $390 million for predicted asbestos liability costs through 2017.[3]

See also

References

  1. ^ "Directors and officers". Crane Co. Retrieved 23 April 2014.
  2. ^ http://www.craneco.com/Profile/87/Stentorfield.html
  3. ^ CR 2007 10-K, Financial Statements and Supplementary Data, pages 48-49 via Wikinvest article
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