Welcome to our dedicated page for Columbus McKinnon Corp/NY news (Ticker: CMCO), a resource for investors and traders seeking the latest updates and insights on Columbus McKinnon Corp/NY stock.
Columbus McKinnon Corporation (NYSE: CMCO) is a global leader in material handling solutions, providing a diverse array of products and services designed to move, lift, position, and secure materials efficiently and ergonomically. With a rich 135-year history, the company is renowned for its innovative and high-quality products, which are used across hundreds of industries including fabrication, food processing, mining, forestry, entertainment, trucking, utility, and defense.
Columbus McKinnon's core offerings include hoists, lifting chains, overhead crane systems, and below-the-hook attachments. These products are essential for various operations, helping firms maintain safety and efficiency in their material handling processes. In addition to these traditional products, the company has expanded its portfolio to include intelligent motion solutions such as motion control products, automated systems, and digital power and motion control systems.
The company's targeted market verticals encompass general industries, process industries, industrial automation, and e-commerce/supply chain/warehousing. These sectors benefit from a range of advanced products like crane components, precision conveyors, actuators, rigging tools, and light rail workstations. Columbus McKinnon generates a significant portion of its revenue from the United States, with substantial contributions from Germany, Canada, Asia Pacific, Latin America, Europe, the Middle East, and Africa.
Columbus McKinnon continues to innovate and adapt to market demands, positioning itself as a key player in the material handling industry. The company's commitment to quality and continuous improvement has earned it a stellar reputation globally, making its products the most recognized and trusted in the market.
Latest News: Source: Columbus McKinnon Corporation
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Columbus McKinnon (NASDAQ: CMCO) has announced an acquisition agreement with montratec, a leader in intelligent automation and transport systems, valued at approximately $110 million. This acquisition aims to enhance CMCO's precision conveyance platform, tapping into high-growth markets such as electric vehicles, life sciences, and semiconductors. Expected to be accretive within a year, the purchase price reflects a multiple of 13.0x projected adjusted EBITDA without synergies. CMCO anticipates a net leverage ratio of 2.7x following the acquisition. The company also reported record preliminary results for Q4 2023, including approximately $253 million in revenue, exceeding guidance. The acquisition is seen as a strategic step to drive higher margins and growth while leveraging montratec's patented technology and market presence in Europe.
Columbus McKinnon Corporation (NASDAQ: CMCO) announced a quarterly dividend of $0.07 per share, payable on May 15, 2023, to shareholders on record by May 5, 2023. The company has approximately 28.6 million shares outstanding, reflecting its commitment to providing returns to shareholders. Columbus McKinnon is a leader in intelligent motion solutions for material handling, focusing on safety and quality through superior design and engineering. For more information, visit www.columbusmckinnon.com.
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