Maxim Crane to Explore Strategic Business Alternatives

June 14, 2006 — Maxim Crane Works Holdings, Pittsburgh, recently announced it is exploring strategic business alternatives that will enable the company to continue to grow its business. The company has retained Goldman, Sachs & Co. to act as its financial advisor during this process. The alternatives under consideration would include a merger, sale of the business, or other potential transactions.

 

During 2005, Maxim Crane increased its annual revenue by more than 10 percent from the prior year, and during the first quarter of 2006 increased its rental revenue by 21 percent over the first quarter of 2005. The company anticipates no changes to its existing business strategy while it considers strategic alternatives.