The assets of New-Jersey based Westlock Controls were recently purchased by Crane Co. for a buyout price of about $40 million in cash from Emerson Electric Co. Emerson Electric is a diversified global manufacturing and technology company based in St. Louis, MO.
Westlock Controls has been a leader in its specialized manufacturing and distribution of both position transmitters and switchboxes. It has developed other solutions in the process valves field for use in networking, monitoring and control.
With Westlock Controls bringing forth 2016 revenues of $32 million, it appears that Crane Co. will be able to meet benchmarks as specified within the company for expansion.
Although its core sales will remain flat in 2017 up to 2%, the company grew the lower-end of its previously issued earnings guidance of $4.30−$4.55 per share by five cents to $4.35−$4.55. Going forward, Crane Co. expects that, because of increasing customer demand, the company will: generate sales in productivity solutions in Payment & Merchandising Technologies niche, as well as take advantage of high growth aerospace programs in Aerospace & Electronics. It further expects to recover orders in Fluid Handling while it is strengthening end markets in Engineered Materials.
Over a recent seven day period, the Crane Co.’s earnings were estimated to have grown 1.1% to $4.50 for 2017 and 1.6% to $4.95 for 2018, based on a the company’s estimated advances up to 6.32% for 2017 and 9.97% for 2018.
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