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Crane NXT, Co. (NYSE: CXT) is a leading industrial technology company specializing in providing secure technology solutions. The company is a pioneer in advanced micro-optics technology used to secure physical products. Its sophisticated electronic equipment and software leverage proprietary detection and sensing technologies to meet the diverse needs of their global client base.
Headquartered in Waltham, Massachusetts, Crane NXT operates with a workforce of approximately 4,000 employees across the US, UK, Mexico, Japan, Switzerland, Germany, Sweden, and Malta. The company’s recent acquisition of OpSec Security has bolstered its portfolio, enhancing their digital and physical authentication and brand protection solutions.
Crane NXT’s core businesses include Crane Payment Innovations (CPI) and Crane Currency. Despite a slight decline in first-quarter 2024 sales, the company achieved $313.6 million in revenue. Although operating profit decreased compared to the previous year, the company continues to focus on adjusting sales strategies, improving operational efficiency, and exploring strategic mergers and acquisitions to drive future growth.
As part of its commitment to shareholders, Crane NXT declared a quarterly dividend of $0.16 per share for the second quarter of 2024. The CEO, Aaron W. Saak, emphasized the company’s goal to grow sales to $3 billion by 2028, reaffirming the company's long-term growth strategy.
For more detailed information about Crane NXT’s financial performance, recent developments, and future initiatives, visit their official website at www.cranenxt.com.
Crane NXT has completed the acquisition of OpSec Security, forming a new Security and Authentication Technologies segment. This acquisition will enhance the company's capabilities in brand protection and authentication solutions. Sam Keayes has been appointed Senior Vice President of Security and Authentication Technologies, overseeing the newly formed segment.
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