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Crane Company (NYSE: CR) is a diversified industrial firm that has been a leader in engineering and manufacturing since its establishment in 1855. The company operates through three main segments: aerospace and electronics, process flow technologies, and engineered materials. Each segment plays a critical role in addressing the needs of various industries, ranging from aerospace to chemical processing.
In the aerospace and electronics segment, Crane specializes in producing high-performance components essential for aviation and defense systems. From valves and actuators to sophisticated control systems, Crane's innovations ensure reliability and efficiency in some of the most demanding environments.
The process flow technologies segment is anchored by Crane ChemPharma & Energy, which recently announced a partnership with Total Valve Systems to distribute and provide authorized service for a range of valve products. These products include well-known brands such as Aloyco®, Xomox®, Pacific Valves®, and Saunders®, among others. This segment focuses on designing and manufacturing high-performance valves, pipes, actuation systems, and fittings, serving industries like biotechnology, pharmaceutical, oil and gas, and power generation.
In the engineered materials segment, Crane produces fiberglass-reinforced plastic panels and other advanced materials that meet the precise requirements of modern engineering projects. These materials are integral to a variety of applications, offering strength, durability, and lightweight properties.
Financially, Crane generated approximately $2.1 billion in revenue in 2023, underscoring its robust market presence and operational efficiency. The company's continuous innovation and strategic partnerships have cemented its reputation as a trusted provider of high-quality industrial products.
To stay updated with Crane's latest developments, partnerships, and financial performance, visit their official website or consult financial news platforms for the most recent updates.
Crane Company (NYSE: CR) has announced its schedule for the first quarter 2023 earnings release, set for May 10, 2023, after market close. This will be publicly distributed and available on the company’s website at www.craneco.com.
A teleconference is scheduled for May 11, 2023, at 10:00 AM (Eastern), featuring President & CEO Max H. Mitchell and Executive VP & CFO Richard A. Maue. The call will be accessible in listen-only mode on the company’s website, along with an accompanying slide presentation.
A web replay will be available post-call on the company's website. Crane Company, established in 1855, specializes in engineered industrial products across various sectors, employing around 7,000 individuals globally.
Crane Company has successfully separated from Crane Holdings, launching as an independent publicly traded company under the ticker CR, effective April 4, 2023. This significant milestone was celebrated by ringing the Opening Bell at the New York Stock Exchange. Crane, a manufacturer of engineered industrial products, aims to strengthen its business model focused on two strategic growth platforms: Aerospace & Electronics and Process Flow Technologies. The company's leadership believes this separation will enhance capital allocation strategies and attract a supportive investor base.
Crane Company (NYSE: CR) and Crane NXT are set to officially separate into independent entities on April 3, 2023. This separation involves a tax-free distribution of Crane's Aerospace & Electronics, Process Flow Technologies, and Engineered Materials segments to existing shareholders. Crane NXT will focus on Payment & Merchandising Technologies and has appointed a strong executive team led by President and CEO Aaron W. Saak. The new board includes seasoned professionals with extensive industry experience. The transition aims to enhance business performance and shareholder value, while all shareholders will retain equity in both companies.
Crane Holdings, Co. (NYSE: CR) announced that Crane NXT, its Industrial Technology business, will be independent from Crane Co. on April 3, 2023. Jennifer Kartono has been appointed as Senior VP and Chief Human Resources Officer for Crane NXT, effective April 10, 2023. She brings over 25 years of experience from Iron Mountain, focusing on enhancing talent acquisition, diversity, and inclusion initiatives. The separation will involve a tax-free distribution of its Aerospace & Electronics, Process Flow Technologies, and Engineered Materials to shareholders. Post-separation, both entities will operate independently while maintaining a commitment to high ethical standards.
Crane Holdings, Co. (NYSE: CR) is set to become an independent company named Crane NXT on April 3, 2023, following a successful separation transaction. The company appointed Paul G. Igoe as Senior Vice President, General Counsel, and Secretary, effective March 20, 2023. Igoe, previously with SS&C Technologies and Teradyne, brings extensive experience in the industrial technology sector. Crane NXT will focus on growth strategies in security and authentication technologies. Shareholders will retain 100% equity in both the new Crane NXT and the remaining Crane Company post-separation.
Crane NXT is set to become an independent company on April 3, 2023, following a separation from Crane Holdings. An investor conference will take place on March 9, 2023, where executives will discuss the company’s growth strategy and financial outlook. Crane NXT aims to provide technology solutions for asset security and authentication, anticipating an annual dividend of $0.56 post-separation. The leadership emphasizes a strong balance sheet and potential for long-term shareholder value, while reaffirming its 2023 earnings guidance originally disclosed in January.
Crane Company is set to become an independent entity effective April 3, 2023, following its separation from Crane Holdings, Co. An investor conference will be held on March 9, 2023, in New York City, featuring key executives discussing the company's growth strategy. Crane Company aims for 4% to 6% long-term core sales growth and anticipates operating profit growth at double the sales growth rate. The company expects a strong balance sheet with $4 billion in cumulative capacity through 2028. Additionally, it will pay an annual dividend of $0.72 per share.
Crane Holdings, Co. (NYSE: CR) announced a separation into two publicly traded companies, with a tax-free distribution of its Aerospace & Electronics, Process Flow Technologies, and Engineered Materials sectors to shareholders. The spin-off will occur on April 3, 2023, where shareholders on record as of March 23, 2023, will receive shares of the new Crane Company, retaining their Crane Holdings shares, which will be renamed Crane NXT, Co. Trading under the current ticker 'CR' continues until the distribution date, followed by a transition to 'CXT' for Crane NXT, Co. This strategic move aims to enhance shareholder value and operational focus.
Crane Holdings, Co. (NYSE: CR) announced that Crane NXT will become an independent company on April 3, 2023, following a separation transaction. Christina Cristiano has been appointed as the Senior VP and CFO of Crane NXT. She brings extensive financial expertise, having previously held significant roles within Crane and at Thomson Reuters. The leadership team, guided by Aaron W. Saak, aims to maximize growth across security, detection, and authentication markets. An upcoming investor conference is scheduled for March 9, 2023, in New York City, where business strategy and capital plans will be discussed.