Columbus McKinnon and Milwaukee Tool Announce Development of First-of-Its Kind Battery-Powered Chain Hoist Combining Industry-Leading Hoist and Battery Technology

Rhea-AI Summary

Columbus McKinnon (CMCO) and Milwaukee Tool collaborate to introduce BatteryStar™ hoist, a cutting-edge battery-powered hoist enhancing safety and portability in lifting applications. The hoist combines the strength of an electric chain hoist with the convenience of a manual hoist, powered by Milwaukee Tool's M18™ REDLITHIUM™ Battery. It offers portability, intelligence, and safety features like wireless remote control and overcapacity alerts. The hoist will be available for sale in the Summer of 2024 under the CM® and Yale® brands.

State-of-the-art BatteryStar™ hoist provides the speed and strength of an electric hoist paired with the portability and convenience of a manual hoist plus enhanced safety features

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Columbus McKinnon Corporation (Nasdaq: CMCO)(“Company” “Columbus McKinnon”), a leading designer and manufacturer of intelligent motion solutions, products and technologies for material handling, and Milwaukee Tool, a global leader in delivering innovative solutions to the professional construction trades, today announced the joint development of a first-of-its-kind battery hoist. Combining Columbus McKinnon’s industry-leading hoist design with Milwaukee Tool’s expertise in lithium-ion battery and brushless motor technology, the innovative BatteryStar™ hoist provides the lifting strength and speed of an electric chain hoist and the portability of a manual hoist without the need for time-consuming manual operation or access to a power source.

“Providing customers with a state-of-the-art solution for their mobile lifting needs, the BatteryStar represents the next step in hoisting innovation, creating a new category of lifting technology,” said Mario Ramos, Sr. Vice President, Product Development and Marketing for Columbus McKinnon. “Building on a 150-year history of innovation and quality in hoisting and lifting technology, this battery-powered hoist was designed to better address our existing customers’ lifting needs by providing new safety features and higher productivity to its users. In addition, this new product reinforces our commitment to serving our customers across a variety of applications, including construction, entertainment, utilities, crane building, equipment maintenance, and more.”

The BatteryStar is powered by Milwaukee Tool’s industry leading M18™ REDLITHIUM™ Battery. This is the same battery customers are already using on job sites around the world, providing convenience and compatibility with well-known Milwaukee-brand tools customers rely on day in and day out. Designed to reduce downtime, the BatteryStar allows an operator to replace the battery quickly and easily for minimal operation interruption.

“One of the most exciting features of the BatteryStar is the portability it provides,” said Ramos. “Weighing only 46 lbs. with the standard 20 feet of chain, this hoist can be transported and installed anywhere it is needed. And, when used in an inverted orientation, the BatteryStar eliminates the need to carry the weight of the hoist up to the anchor point, improving ergonomics and reducing operator effort.”

In addition to the portability, strength and reliability Columbus McKinnon is known for, the BatteryStar provides added safety and intelligence to any lifting application. Not only does the hoist reduce operator effort and fatigue with the elimination of manual effort, but it also keeps the operator out of the load path with a wireless remote that can control the hoist from up to 60 feet away. In addition, the remote features built-in intelligence that alerts the operator when the hoist is over capacity or the battery has less than 25% of charge so the battery can be replaced proactively. It also indicates if hoist inspection is due when used in conjunction with Milwaukee Tool’s ONE-KEY™ app. Other features of the hoist include a patent-pending mechanical brake for added safety as well as true variable speed for precise lifting and improved efficiency.

The BatteryStar hoist has a 1-metric-ton lifting capacity with 20 feet of lift as standard and lifting speeds of 8 feet per minute. The hoist will be available for sale from Columbus McKinnon beginning in the Summer of 2024. It will be sold under the CM® brand in North America and Latin America and the Yale® brand in Europe, the Middle East, Africa, and Asia Pacific.

About Columbus McKinnon

Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of intelligent motion solutions that move the world forward and improve lives by efficiently and ergonomically moving, lifting, positioning and securing materials. Key products include hoists, crane components, precision conveyor systems, rigging tools, light rail workstations and digital power and motion control systems. 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 at www.cmco.com. CM is a brand of Columbus McKinnon.

About Milwaukee Tool

Milwaukee Tool, founded in 1924, is a global leader in delivering innovative solutions to the professional construction trades that increase productivity and safety. Milwaukee® is known for their world-leading M12™, M18™, and MX FUEL™; cordless tool systems, the ground-breaking performance of their cordless innovations, safety solutions, battery-powered outdoor power equipment, jobsite lighting and clean-up, time-saving tool accessories, and innovative hand tool and PACKOUT™; Modular Storage products. The company is dedicated to delivering a steady stream of advanced, trade-specific solutions.

Milwaukee Tool is a Brookfield, Wisconsin-based subsidiary of Techtronic Industries Co. Ltd. (TTI) (HKEx stock code: 669, ADR symbol: TTNDY). For more information on the full line of Milwaukee® products, please call 1-800-SAWDUST or www.milwaukeetool.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240320131392/en/

Christie Lagowski

Senior Manager, Communications

Columbus McKinnon Corporation

716-861-1240

christie.lagowski@cmco.com

Kristine Moser

VP IR and Treasurer

Columbus McKinnon Corporation

704-942-3253

kristy.moser@cmco.com

Source: Columbus McKinnon Corporation

FAQ

What is the name of the battery-powered hoist introduced by Columbus McKinnon and Milwaukee Tool?

The battery-powered hoist introduced by Columbus McKinnon and Milwaukee Tool is called BatteryStar™.

What is the ticker symbol for Columbus McKinnon ?

The ticker symbol for Columbus McKinnon is CMCO.

When will the BatteryStar hoist be available for sale?

The BatteryStar hoist will be available for sale starting in the Summer of 2024.

What is the lifting capacity of the BatteryStar hoist?

The BatteryStar hoist has a lifting capacity of 1 metric ton.

What brands will the BatteryStar hoist be sold under in different regions?

The hoist will be sold under the CM® brand in North America and Latin America and the Yale® brand in Europe, the Middle East, Africa, and Asia Pacific.