Crane Group Focuses on Future Growth
Two New Subsidiaries Created to Fuel Plan
COLUMBUS, Ohio--(BUSINESS WIRE)--Crane Group announced today the creation of two new subsidiaries as part of the company's plans to double sales by 2010. The new companies, The Crane Group Companies and Crane Investment Company, will be headquartered in Columbus, Ohio, and are part of Crane Group’s long-term strategy to be recognized as a national leader in the manufacture and sale of building and remodeling products and a valued investment partner both locally and nationally.
“I don’t believe our grandfather could have ever dreamed of how dynamic and diverse the company he started in 1947 would become today”
Celebrating its 60th anniversary this year, Crane’s roots date back to a custom profile plastic extrusion business started in Columbus by Robert S. Crane, Sr. Today, Crane Group is best known for its nine industry- and market-leading manufacturing and service companies as well as its diverse investment portfolio. Employing more than 1,300 people, Crane Group has 10 manufacturing facilities with operations in six U.S. states and internationally in Chile and China.
“I don’t believe our grandfather could have ever dreamed of how dynamic and diverse the company he started in 1947 would become today,” said Tanny Crane, President and CEO of Crane Group. “The company has grown dramatically in the past decade both here in the U.S. and overseas. If we are going to double our sales by 2010, we need to provide focus for our core businesses and our investments, to insure their continued growth. I am confident we can do that by making necessary changes to our structure to ensure we remain a valued employer and strong competitor in the markets where we do business. These new subsidiaries also serve as a roadmap for our organization as we consider future acquisitions and expansion.”
The Crane Group Companies will remain at the company's current location on Fairwood Avenue on Columbus’ south side, but Crane Investment Company and Crane Group have leased office space in downtown Columbus' Arena district. All three companies will be hiring additional employees throughout 2007.
The Crane Group Companies
Mike Crane has been named President of The Crane Group Companies. Within The Crane Group Companies, the original nine operating companies will be grouped into three new business units: Crane Service Group, Crane Marine Products and the largest, Crane Building Products.
Crane Service Group consists of three operating companies: Able Roofing, a home improvement company; Signature Control Group, a provider and distributor of security gates and controls; and Suburban Steel, a manufacturer of residential and commercial steel and erector products. Crane Marine Products consists of Crane Materials International, the leading U.S. manufacturer of erosion control products, and Gator Dock and Marine, a manufacturer of docks, piers, bridges and pilings.
Five operating companies comprise Crane Building Products: TimberTech; Crane Performance Siding, a leading manufacturer of exterior siding design products; Crane Plastics (formerly Crane Plastics Manufacturing), a custom profile extruder for many leading manufacturers; Crane Fencing Solutions, a leading manufacturer of vinyl fence and railing products; and Evermark, a manufacturer of exterior door and frame components.
Stu Kemper, formerly the President of TimberTech, has been named President of Crane Building Products. Kemper helped establish and grow TimberTech into the fastest-growing composite decking, railing and fencing brand in the U.S. Crane Building Products will provide each company with access to industry-leading manufacturing, new product development and engineering support, while allowing each company to remain focused on its individual markets. With the promotion of Kemper, Tom Gramlich, formerly Vice President and General Manager of TimberTech, has been named President.
Crane Investment Company
Randy Fortener, who formerly served as Executive Vice President and CFO for Crane Group, has been named President of Crane Investment Company. The company will oversee and manage Crane Group’s real estate holdings, private equity portfolio and other assorted investments to become an aggressive and valued partner within the Columbus and national investment community.
All changes will go into effect on July 1, 2007. Additional employee promotions will be made over the next two months.
The Crane Group is a third generation, family-owned, holding company headquartered in Columbus, Ohio, and is one of the largest, privately-held companies focused on building products and services in the U.S. Celebrating 60 years of business in 2007, Crane Group is comprised of The Crane Group Companies and Crane Investment Company and has more than 1,300 employees with locations in Columbus, Mason, and Wilmington in Ohio; and operating facilities in Florida, Georgia, Indiana, Kentucky, and Michigan and internationally in Chile and China.