By Paul Schott Published 11:43 am EDT, Tuesday, July 23, 2019 Crane Co. is headquartered at the First Stamford Place complex in the Waterside section of Stamford, Conn. Crane Co. is headquartered at the First Stamford Place complex in the Waterside section of Stamford, Conn. Photo: Matthew Brown / Hearst Connecticut Media Buy photo Photo: Matthew Brown / Hearst Connecticut Media Image 1 of / 1 Caption Close Image 1 of 1 Crane Co. is headquartered at the First Stamford Place complex in the Waterside section of Stamford, Conn. Crane Co. is headquartered at the First Stamford Place complex in the Waterside section of Stamford, Conn. Photo: Matthew Brown / Hearst Connecticut Media Buy photo Crane revenues dip in second quarter 1 / 1 Back to Gallery STAMFORD — Industrial-products manufacturer Crane Co., which last week scuttled its planned acquisition of pump-and-valve maker Circor International, reported this week slightly slower returns for the past quarter. In the second quarter, Crane sales decreased 1 percent, to $842 million, a dip that the company said reflected “unfavorable” foreign-exchange rates and also some business divestitures. It recorded a $91 million profit, compared with an $81 million bottom line a year ago. “We had another strong quarter with operating results again slightly better than expected,” Crane CEO and President Max Mitchell said in a statement. “All of our businesses are executing well, and we continue to drive both growth and productivity initiatives across our businesses.” Crane’s nearly $2 billion bid for Circor expired at midnight… [Read full story]
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