Columbus McKinnon sells certain assets to Autoquip Corp. for $2.4M
Columbus McKinnon announced the sale of certain assets within its American Lifts business to Autoquip Corporation for $2.4M in cash. The transaction closed on October 30. The American Lifts business contributed approximately $7M of revenue to Columbus McKinnon in the fiscal year that ended March 31. The company expects to record a $800K pretax gain on the transaction in its fiscal 2010 third quarter, which ends December 31. :theflyonthewall.com
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