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Company Interview Excerpt
Columbus McKinnon Corp. - Karen L. Howard


Full article published: 06/14/2010


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TWST: I would like to start with a brief history of the company. I believe Columbus McKinnon's roots go back some 135 years, no?
Ms. Howard: You are right, 135 years. We obviously have a long history. We trace our roots back to 1875, before the industrial revolution in the United States. It was family owned for years and years, and then the management team in 1986 bought it from the family, and then we went public in 1996. So we've been public for 14 years now. Our focus has always been on material handling products. Our more recent focus has been to grow the business, to diversify, especially geographically. So we have long been in the hoist and rigging products space, with rigging products including chain and attachments that get used for rigging things. So that hasn't changed, but we are fortunate to have long roots, especially in North America. And those roots have helped us to gain the market shares that we have. About 65% of sales in the U.S. are in markets where we have a number one market position. So obviously we are proud of that and work hard to retain that and even grow it. Given that strength and that background, our focus has been to grow more in markets where we have more opportunity from a geographic perspective. So we have been investing more in international markets and have grown our international revenues to be about 44% of our revenue for our year ended March 31, 2010. I'll contrast that with when we went public 14 years ago- - we were a much smaller company, and it was only about 15% at that time. So it's grown quite a bit. And now as we look to the future, we have set goals to be a billion-dollar company and to have our revenue geographically dispersed 50-50 - 50% in the U.S., 50% outside.

 

Tickers included in this excerpt: CMCO

 

For more information call (212) 952 7433. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.