Crane Co.

Not to be confused with Crane Currency.

Crane Co.

Type	Public company
Traded as	NYSE: CR S&P 400 Component
ISIN	🆔
Industry	Industrial conglomerate
Founded 📆	Chicago, Illinois (1855)
Founder 👔	Richard T. Crane
Headquarters 🏙️	Stamford, Connecticut, United States
Area served 🗺️
Key people	Robert S. Evans, Chairman Max Mitchell, President & CEO
Products 📟	Aerospace & Electronics, Engineered Materials, Payment and Merchandising Technologies, Fluid Handling, Sensing & Control Systems
Revenue🤑	US$3.0 billion
Members
Number of employees	11,000
🌐 Website	www.craneco.com
📇 Address
📞 telephone

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), Payment and Merchandising Technology (vending machines, payment technology, currency technology and printing), 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)
• Payment and Merchandising Technologies
  • Automatic Payment Systems (Crane Payment Innovations, the result of merging former Crane Payment Solutions and MEI)
  • Vending Machines (Crane Merchandising)
  • Currency and Currency security features (Crane Currency)

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
• Payment and Merchandising Technologies
  • Crane Currency
  • Crane Merchandising Systems
    • Automatic Products (APi)
    • Stentorfield
    • Dixie-Narco
    • Glasco Polyvend Lektrovend (GPL)
    • St Louis (National Vendors)
    • Streamware
  • Crane Payment Innovations (CPI)
    • Money Controls
    • CashCode
    • Telequip
    • MEI Conlux
    • Conlux
    • National Rejectors (NRI)

Litigation

• In a 1917 U.S. Supreme Court case Looney v. Crane Co., the company was involved against the state of Texas.

The Court held "that the franchise and permit taxes both violated the due process clause of the Fourteenth Amendment and directly burdened interstate commerce. A suit to enjoin state officials from enforcing an unconstitutional tax is not a suit against the state." The meaning of this ruling is that States are not allowed to add burdens to corporations if it impacts interstate commerce. This case has been cited in over 20 further Supreme Court rulings.

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.

See also

• List of S&P 400 companies

External links

• Official website
• • Business data for Crane Co.: Google Finance
  • Yahoo! Finance
  • Bloomberg
  • Reuters
  • SEC filings

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