Columbus mckinnon chain

The company supplied the Air Force with countless hand hoists. It also supplied both the Navy and Air Force with vast quantities of tie-down chain. Columbus McKinnon was the only company, in fact, that could meet the government's specification for the strength of military chain.

After the war and through the s Columbus McKinnon grew steadily and solidified its position as one of the most respected manufacturers of chain and hoist. It also made a concerted effort to expand its presence in Europe.

Head of product development, Bill Devonshire was picked by Stone to set up a distribution network throughout Europe. Within 20 years Columbus McKinnon products would be available in over 70 countries through more than distributors.

Columbus McKinnon also began to establish affiliations with foreign manufacturers. A plant in St. Catharines, Ontario, was built in to produce both hoists and chain.

A hoist factory was opened in Damascus, Virginia, in A plant that opened in Manatee, Florida, in was dedicated to the production of Columbus McKinnon chainmaking equipment.

In a Lexington, Tennessee, plant was built to produce carbon chain. It wouldn't be until the mids, however, that the company would truly engage in an aggressive pattern of mergers and acquisitions, a strategy that was intended to enlarge the scope of Columbus McKinnon beyond the mere manufacture of chains and hoists.

After the acquisition of three companies--Cady Lifters, Inc. Later in the year, Columbus McKinnon bought Yale International, makers of a variety of material handling products in addition to hoists. The one drawback of LICO was its dependence on automakers and the uncertainty when large projects might be put up to bid. Columbus McKinnon also moved to add cranes to its mix of material handling products. The momentum of Columbus McKinnon was checked, however, when volatility in the automotive industry had an adverse effect on the company.

In late August management warned investors that second quarter profits would fall short of expectations. The company instituted a hiring freeze and cut back on discretionary spending, but despite these cost-savings measures it was difficult to continue an aggressive pattern of growth with a low stock price that would make it difficult to pay for further acquisitions by using shares.

Management was also reluctant to issue new shares when the company's stock was valued so low. Columbus McKinnon continued to make acquisitions, albeit on a smaller scale. SERG produced swivel joints and rotary unions, and helped Columbus McKinnon to expand its industrial components business.

The transaction provided Columbus McKinnon with plate clamps, crane weighers, and other products that complimented the company's line of hoists. Columbus McKinnon also announced that it was now in a position to create a network for crane manufacturers, a venture it planned to call CraneMart. Members would be able to command lower prices on essential products, such as steel, by combining forces.

The day after management announced the Washington Equipment deal, on 7 May , the company was caught off guard by an announcement that a group of shareholders wanted to replace the board and look into selling the company.

Although Schwarz conceded that management had done a good job running the company, he said he was concerned that increased sales and profits had not lifted the stock's price. Schwarz's group had first suggested that management consider selling the company in August , and again in a pair of meetings in March With all eight directors' seats up for election at an August 16 annual meeting, a proxy fight for control of the company was now underway.

Management contended that the dissident's strategy was shortsighted and vowed to resist the takeover. Columbus McKinnon was not the first company to be pressured to sell by Schwarz and Metropolitan. The following year the group forced the sale of Raymond Corp, and in followed the same strategy to pressure surgical equipment maker Circon Corp.

In all of these cases, stock prices rose and Metropolitan pocketed significant profits. Even when the group failed to force a New Orleans bank, Meritrust, to sell, it still was able to take advantage of an inflated stock price. Columbus McKinnon management, led by CEO Timothy Tevens, did not disguise its belief that Schwarz was nothing less than a stock manipulator with no long-term interest in the health of the company.

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Ductile iron clasp provides higher strength. Clasp is open at top and drawn tight by a bolt, eliminating the need for a bolt hole through handle-increasing strength. Toggle navigation. EN FR. Chains Forgings. Grade 30 Chain Proof Coil.

Grade 70 Transport Chain Binding. Grade 70 Transport Chain Binding CM Transport Chain is typically used in transportation industry applications; such as load securement, towing, lashing and trawler chain. Open the catalog to page Camlok Clamps 28 Pages. CM Lodestar and Shopstar 2 Pages.

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