Columbus McKinnon to Acquire STAHL CraneSystems, a unit of Konecranes PLC


> Columbus McKinnon Corporation (NASDAQ:CMCO), (“Company”) a leading designer, manufacturer and marketer of material handling products, technologies and services, today announced that it has reached an agreement to purchase STAHL CraneSystems (“STAHL”), a business of Konecranes Plc. STAHL is a leading manufacturer of explosion-protected hoists and crane components and is well known for its custom engineering of lifting solutions and hoisting technology. STAHL serves independent crane builders and Engineering Procurement and Construction (EPC) firms, providing products to a variety of end markets including automotive, general manufacturing, oil & gas, steel & concrete, power generation as well as process industries such as chemical and pharmaceuticals. Konecranes is divesting STAHL as a result of the European Union anti-trust review related to their pending acquisition of Terex Corporation’s Material Handling & Port Solutions business. Timothy T. Tevens, President and CEO of


Columbus McKinnon, commented, “We have long viewed STAHL as an ideal complement to Columbus McKinnon EMEA, as well as an excellent expansion of our global product offering. Their strong position with wire rope and electric chain hoists in Europe immediately complements our leadership of handheld hoists in that region, and their broad portfolio of ATEX certified explosion-protected products serving the mining, oil & gas and chemical processing industries significantly extends our global offerings in capability and capacities. Equally important, Columbus McKinnon and STAHL are culturally aligned, as STAHL has a similar go-to-market strategy, produces high quality products and is focused on the total cost of ownership for their customers. They also have strong, established relationships with EPC firms for key end-user solutions.” Founded in 1876, STAHL has


approximately 650 employees that support the manufacturing operation located in Germany and its nine affiliated sales companies around the world. For the trailing twelve-month period ended September 30, 2016, STAHL had total revenue of approximately 155 million (~$166 million) and EBITDA of approximately 29 million (~$31 million), or about 19% of


revenue. EBITDA, or earnings before interest, taxes, depreciation and amortization, is a non-GAAP metric typically used in assessing acquisition valuations. Geographically, STAHL revenue is approximately 71% EMEA, 16% Americas and 13% Asia Pacific. Columbus McKinnon’s acquisition of


STAHL is expected to close between January 31, 2017 and April 30, 2017. The closing is subject to European Commission approval, the successful closing of the pending acquisition of certain Terex subsidiaries by Konecranes, and other customary conditions. y


Gaylin Opens Facility in South Korea


> Singapore-headquartered Gaylin, a specialist supplier of lifting, rigging and marine equipment primarily to the oil and gas industry, has opened a new facility in Busan, South Korea. Gaylin will co-locate at a purpose-built,


3,967 square metre site with Phoenix Offshore Co. Ltd, a Gaylin-owned ship chandler supply business. The new facility will stock a full range of equipment, including a vast range of lifting equipment, marine mooring systems, winch packages and associated services. The site, strategically positioned within


close proximity of a number of major seaports, comprises a three-storey office and a sprawling workshop over two levels. It is the cornerstone of a multi-million pound expansion investment plan. Desmond Teo, CEO of the Gaylin


Group, said: “We intend to invest further into the local economy and build an industry competent national workforce with the aid of Rigmarine’s [another business in the Gaylin Group] development programmes. These programmes have a global track record of building world-class workforces in the oil and gas sector, capable of delivering the highest standards of quality in addition to health and safety compliance.” Teo added: “The opening of the Busan


facility marks another significant milestone for the Gaylin Group of companies. We have grown significantly over the past three years despite the industry downturn. This underlines the focus and drive of our management team and our passion to become a global force in our sector. We remain in a phase of growth, but already cover a larger footprint and offer greater diversity of product lines than any other business of our kind.”


[INDUSTRY NEWS] The facility is Gaylin’s sixth global hub—


others are in Singapore, Malaysia, Indonesia, Vietnam and China—but, inclusive of Rigmarine sites, it is a landmark 10th in the group. A commonality is the core customer base in offshore oil and gas, renewables, construction, break bulk, shipping and marine industries. Gaylin will manufacture wire rope slings


up to 128mm diameter in Busan, where overhead cranes offer complete material handling coverage across the site, which also boasts a 2,000t horizontal test machine and a smaller 600t unit. Eventually, Gaylin will use the location to supply more specialist offerings, such as crane examination, light engineering and spooling services. Teo concluded: “The facility is in the heart


of the southeast economic zone and on the doorstep of the machinery, steel, shipbuilding and marine industries. The oil and gas sector has been hit hard in Korea, similarly to other global hotbeds, but it will bounce back and when it does we’ll be ready.” y


Ulven Forging, Inc. Aerospace Division Achieves AS9100C Certification


> Ulven Forging Inc. Aerospace Division has received AS9100C certification. The certification was performed in accordance with AS9104/1:2012 and found to be in compliance with AS9100C and ISO 9001:2008 Quality Standards. This certificate was achieved from Ulven Forgings production of Aerospace parts which have met or exceeded AS9100C standards for many years. Bryan Rumpca, General Manager of Ulven


Forging commented, “The Aerospace industry is a core market which Ulven has served for over 20 years. This approval validates that our processes support product safety needs for this industry and demonstrates our commitment to it. The Ulven Aerospace Division is now well positioned to manufacture products for the Aerospace industry while meeting all safety and quality criteria.” The Ulven Companies are a globally


recognized group of companies that produce high quality Aerospace products, precision forgings and castings along with 2 product line branded companies producing rigging products and engineered cable supported assembles and structures located in beautiful Hubbard, Oregon. Since their inception over 40 years


WIRE ROPE EXCHANGE JANUARY–FEBRUARY 2017 7


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