FOR IMMEDIATE RELEASE
NEWS RELEASE
CONTACT:
Karen L. Howard
Vice President, Treasurer and Interim Chief Financial Officer
Columbus McKinnon Corporation
716-689-5550
KAREN.HOWARD@CMWORKS.COM
COLUMBUS MCKINNON CORPORATION
FILES REGISTRATION STATEMENT FOR A PUBLIC OFFERING
OF 3,350,000 SHARES OF COMMON STOCK
AMHERST, N.Y. October 20, 2005 -- Columbus McKinnon Corporation (Nasdaq-NNM:
CMCO) announced today that it has filed a registration statement with the
Securities and Exchange Commission relating to the public offering of 3,350,000
shares of its common stock, of which 3,000,000 shares will be sold by Columbus
McKinnon and 350,000 shares will be sold by a selling shareholder. The net
proceeds from the shares sold by Columbus McKinnon will be used to redeem a
portion of its outstanding 10% Senior Secured Notes and for general corporate
purposes to advance its strategy of global growth, including additional debt
repayment, investments and acquisitions.
The offering will be lead managed by Credit Suisse First Boston. Robert W. Baird
& Co. and Needham & Company, LLC will act as co-managers. The offering is
subject to regulatory approvals, as well as customary closing and market
conditions.
A registration statement relating to the common stock being offered has been
filed with the Securities and Exchange Commission but has not yet become
effective. The common stock may not be sold nor may offers to buy be accepted
prior to the time the registration statement becomes effective. This
announcement shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of the common stock in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of
material handling products, systems and services, which efficiently and
ergonomically move, lift, position or secure material. Key products include
hoists, cranes, chain and forged attachments. The Company is focused on
commercial and industrial applications that require the safety and quality
provided by its superior design and engineering know-how. Comprehensive
information on Columbus McKinnon is available on its web site at
HTTP://WWW.CMWORKS.COM.
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This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such statements may
include, but are not limited to, statements concerning future revenue and
earnings, involve known and unknown risks, uncertainties and other factors that
could cause the actual results of the Company to differ materially from the
results expressed or implied by such statements, including general economic and
business conditions, conditions affecting the industries served by the Company
and its subsidiaries, conditions affecting the Company's customers and
suppliers, competitor responses to the Company's products and services, the
overall market acceptance of such products and services, the effectiveness of
the Company's plans for growth, the ability to complete this equity offering and
to recall outstanding debt and other factors disclosed in the Company's periodic
reports filed with the Securities and Exchange Commission. The Company assumes
no obligation to update the forward-looking information contained in this
release.
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