Crane Co.
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Crane Co. is an American industrial products company based in Stamford, Connecticut. The company was founded in 1855 by Richard Teller Crane and has grown to become a diversified manufacturer of highly engineered industrial products. Crane Co. operates in various segments, including aerospace & electronics, engineered materials, merchandising systems, fluid handling, and payment & merchandising technologies.
History[edit | edit source]
Crane Co. was established in 1855 in Chicago, Illinois by Richard Teller Crane. Initially, the company focused on the manufacturing of brass and plumbing supplies. Over the years, Crane Co. expanded its product line and entered new markets, becoming a significant player in the industrial sector.
Business Segments[edit | edit source]
Crane Co. operates through several business segments:
Aerospace & Electronics[edit | edit source]
The Aerospace & Electronics segment provides components and systems for the aerospace, defense, and space markets. Products include landing systems, sensing and utility systems, and microwave systems.
Engineered Materials[edit | edit source]
The Engineered Materials segment produces fiberglass-reinforced plastic panels and coils for the transportation, building products, and recreational vehicle markets.
Merchandising Systems[edit | edit source]
The Merchandising Systems segment offers vending equipment and payment solutions. This includes vending machines, payment acceptance, and connectivity solutions.
Fluid Handling[edit | edit source]
The Fluid Handling segment manufactures valves, pumps, and related products for the chemical, oil & gas, power, and general industrial markets.
Payment & Merchandising Technologies[edit | edit source]
This segment focuses on providing technology solutions for payment and merchandising, including cash and coin handling equipment, as well as software solutions for retail and financial institutions.
Headquarters[edit | edit source]
Crane Co. is headquartered in Stamford, Connecticut. The company has a global presence with manufacturing facilities and sales offices around the world.
Notable Acquisitions[edit | edit source]
Over the years, Crane Co. has made several strategic acquisitions to expand its product offerings and market reach. Some notable acquisitions include:
- Xomox Corporation in 1999
- Dresser Industries' Instrumentation and Valves business in 2005
- MEI Conlux Holdings in 2013
Corporate Governance[edit | edit source]
Crane Co. is governed by a Board of Directors, which oversees the company's management and operations. The company is committed to maintaining high standards of corporate governance and ethical business practices.
See Also[edit | edit source]
References[edit | edit source]
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Contributors: Prab R. Tumpati, MD
