News Release
Contact:
Karen L. Howard
Vice President - Finance and Chief Financial Officer
Columbus McKinnon Corporation
716-689-5550
karen.howard@cmworks.com
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COLUMBUS MCKINNON TO EVALUATE STRATEGIC ALTERNATIVES, INCLUDING
POSSIBLE SALE, FOR ITS UNIVEYOR BUSINESS
AMHERST, N.Y., January 11, 2008 - Columbus McKinnon Corporation (NASDAQ: CMCO),
a leading designer, manufacturer and marketer of material handling products,
today announced that, although solid progress is being made in advancing the new
business model of Univeyor, it has decided to evaluate strategic alternatives,
including the potential sale of the business. Columbus McKinnon is currently in
the process of selecting a financial advisor to lead the initiative.
Univeyor, which is part of the Company's Solutions segment, is a producer and
supplier of both standard and custom-designed products and systems for
integrated material handling and logistics applications. For the 12-month period
ended September 30, 2007, Univeyor's net sales were $30.1 million representing
58.4% of the Solutions segment net sales of $51.5 million and 5.0% of the
Company's total consolidated net sales of $598.4 million. Univeyor primarily
sells directly to the end-users of its services and products and is based in
Arden, Denmark.
ABOUT COLUMBUS MCKINNON
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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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SAFE HARBOR STATEMENT
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THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. SUCH STATEMENTS 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 EFFECT OF OPERATING LEVERAGE, THE
PACE OF BOOKINGS RELATIVE TO SHIPMENTS, THE ABILITY TO EXPAND INTO NEW MARKETS
AND GEOGRAPHIC REGIONS, THE SUCCESS IN ACQUIRING NEW BUSINESS, THE SPEED AT
WHICH SHIPMENTS IMPROVE, 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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