Crane Co. has reportedly sold off a joint venture in Illinois that sells robotic tooling and industrial automation systems, recording $33 million in proceeds after taxes.
A week earlier, the Stamford company sold a valve manufacturing facility in Ipswich, England, to developers there for $36 million, and indicated it will lease back the facility for two years until it moves the operations to other locations.
Dover Corp. is purchasing Industrial Motion Control (IMC), a Wheeling, Ill., company Crane co-owned with Emerson Electric Co. New York City-based Dover is adding IMC to its DE-STA-CO subsidiary in Madison Heights, Mich., which makes toggle clamps used for robotic grippers.
IMC has annual revenue of $50 million selling parts handlers and precision link conveyors used in factories.
Crane, which sells materials and parts used for aerospace and fluid handling, completed the deals even as it searched for a new chief financial officer. The company”™s previous CFO Robert Vipond resigned in November, without detailing specifics for his departure.
Â
