- Email: [email protected]
Crane Co, USA
COMPANY PROFILE
Crane Co, USA Profile
Crane Co is a diversified manufacturer of highly engineered industrial products. The company has four business segments: Fluid Handling; Aerospace & Electronics; Merchandising Systems; and Engineered Materials. The Fluid Handling segment is Crane’s largest and is home to the company’s industrial fluid control products, including pumps and valves. Crane Pumps & Systems manufactures industrial pumps for transporting water and wastewater. Pump brand names include Barnes, Burks, Crown, Deming, Prosser and Weinman. Pumps are sold to a broad customer base that includes industrial, municipal and commercial water and wastewater, commercial heating, ventilation and air-conditioning industries, original equipment manufacturers and military applications. Crane Pumps & Systems has facilities in Piqua, Ohio, USA; Bramalea, Ontario, Canada; and Zhejiang, China. Analysis
COMMENT
Crane’s Fluid Handling segment saw sales fall US$0.8 million in 2013, mainly due to a US$19 million decrease in Crane Supply, partially offset by a US$16 million increase in the Crane Valve Group reflecting strength in the power and nuclear end markets and weakness in the chemical business. Crane Pumps & Systems sales increased 6% to US$89 million in 2013, with market growth and share gains in the municipal, residential and industrial markets. Fluid Handling operating profit increased by US$34 million in 2013, 21% up on 2012’s US$161 million, due mainly to US$10 million in repositioning savings realised in 2013 and the impact of higher pricing. Fluid Handling backlog was US$334 million at 31 December 2013, down 3% on the end of 2012.
Crane is expecting modest sales growth for its Fluid Handling segment in 2014, with a gradual strengthening in the Chem-Pharma Energy valve business in the second half of the year, driven by improving chemical industry demand in North America and Europe. The company is also anticipating chemical investments in the Middle East and China and that US refineries will continue their upgrades. Crane believes that positive demand from power markets in China and Europe is likely to continue in 2014, but that Americas and India will remain soft. ■
Key Figures (US$ million) Crane Co
Year ended 31.12 2011
2013
2012
2010
2009
2595.3
2579.1
2500.4
2179.3
2163.9
1288.6
1289.5
1228.7
–
–
347.9
310.4
36.6
233.3
209.8
194.9
161.0
161.0
–
–
Net Income Attributable to Common Shareholders 219.5
217.0
26.3
154.2
133.9
66.9
64.2
–
–
Net Sales Of Which: Fluid Handling Operating Profit from Continuing Operations Of Which: Fluid Handling R&D
52.7
Contact Details
Crane Co President & CEO: Group President, Fluid Handling: Address:
Max Mitchell Louis Pinkham 100 First Stamford Place Stamford CT 06902 USA
Tel: +1 203 363 7300 Web: www.craneco.com, www.cranepumps.com
Recent Events
UÊ >ÝÊ ÌV iÊÃÕVVii`i`Ê ÀVÊ>ÃÌÊ>ÃÊ
"ÊvÊ À>iÊ Ê>ÌÊÌ iÊi`ÊvÊ>Õ>ÀÞÊÓä£{°ÊÊvÀiÀÊ«ÀiÃ`iÌÊvÊÌ iÊÕ`Ê>`}ÊÃi}iÌ]Ê Mitchell, 50, was appointed president of Crane Co in January 2013 (see Pump Industry Analyst, February 2014).
March 2014
Pump Industry Analyst
5
Crane Co, USA Profile
Crane Co is a diversified manufacturer of highly engineered industrial products. The company has four business segments: Fluid Handling; Aerospace & Electronics; Merchandising Systems; and Engineered Materials. The Fluid Handling segment is Crane’s largest and is home to the company’s industrial fluid control products, including pumps and valves. Crane Pumps & Systems manufactures industrial pumps for transporting water and wastewater. Pump brand names include Barnes, Burks, Crown, Deming, Prosser and Weinman. Pumps are sold to a broad customer base that includes industrial, municipal and commercial water and wastewater, commercial heating, ventilation and air-conditioning industries, original equipment manufacturers and military applications. Crane Pumps & Systems has facilities in Piqua, Ohio, USA; Bramalea, Ontario, Canada; and Zhejiang, China. Analysis
COMMENT
Crane’s Fluid Handling segment saw sales fall US$0.8 million in 2013, mainly due to a US$19 million decrease in Crane Supply, partially offset by a US$16 million increase in the Crane Valve Group reflecting strength in the power and nuclear end markets and weakness in the chemical business. Crane Pumps & Systems sales increased 6% to US$89 million in 2013, with market growth and share gains in the municipal, residential and industrial markets. Fluid Handling operating profit increased by US$34 million in 2013, 21% up on 2012’s US$161 million, due mainly to US$10 million in repositioning savings realised in 2013 and the impact of higher pricing. Fluid Handling backlog was US$334 million at 31 December 2013, down 3% on the end of 2012.
Crane is expecting modest sales growth for its Fluid Handling segment in 2014, with a gradual strengthening in the Chem-Pharma Energy valve business in the second half of the year, driven by improving chemical industry demand in North America and Europe. The company is also anticipating chemical investments in the Middle East and China and that US refineries will continue their upgrades. Crane believes that positive demand from power markets in China and Europe is likely to continue in 2014, but that Americas and India will remain soft. ■
Key Figures (US$ million) Crane Co
Year ended 31.12 2011
2013
2012
2010
2009
2595.3
2579.1
2500.4
2179.3
2163.9
1288.6
1289.5
1228.7
–
–
347.9
310.4
36.6
233.3
209.8
194.9
161.0
161.0
–
–
Net Income Attributable to Common Shareholders 219.5
217.0
26.3
154.2
133.9
66.9
64.2
–
–
Net Sales Of Which: Fluid Handling Operating Profit from Continuing Operations Of Which: Fluid Handling R&D
52.7
Contact Details
Crane Co President & CEO: Group President, Fluid Handling: Address:
Max Mitchell Louis Pinkham 100 First Stamford Place Stamford CT 06902 USA
Tel: +1 203 363 7300 Web: www.craneco.com, www.cranepumps.com
Recent Events
UÊ >ÝÊ ÌV iÊÃÕVVii`i`Ê ÀVÊ>ÃÌÊ>ÃÊ
"ÊvÊ À>iÊ Ê>ÌÊÌ iÊi`ÊvÊ>Õ>ÀÞÊÓä£{°ÊÊvÀiÀÊ«ÀiÃ`iÌÊvÊÌ iÊÕ`Ê>`}ÊÃi}iÌ]Ê Mitchell, 50, was appointed president of Crane Co in January 2013 (see Pump Industry Analyst, February 2014).
March 2014
Pump Industry Analyst
5