8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 18, 2007

CRANE CO.

(Exact name of registrant as specified in its charter)

DELAWARE

(State or other jurisdiction of incorporation)

1-1657	13-1952290
(Commission File Number)	(IRS Employer Identification No.)

100 First Stamford Place, Stamford, CT	06902
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (203) 363-7300

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

INFORMATION TO BE INCLUDED IN THIS REPORT

SECTION 8 – OTHER EVENTS

ITEM 8.01 Other Events

Crane Co., a diversified manufacturer of highly engineered industrial products, announced on December 18, 2007 the sale of its joint venture company with Emerson Electric Co., Industrial Motion Control, LLC, also known as IMC, to DE-STA-CO, a Dover Company. As a result of the sale, Crane Co. will receive after-tax cash proceeds of approximately $33 million and record an after-tax gain of $6.0 million, or $0.10 per share, in the fourth quarter.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 Financial Statements and Exhibits

(a) None

(b) None

(c) None

(d) None

99.1 Press Release dated December 18, 2007, issued by Crane Co.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CRANE CO.
Dated: December 19, 2007	By:	/s/ Augustus I. duPont
		Augustus I. duPont
		Vice President, General Counsel and Secretary

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EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release dated December 18, 2007, issued by Crane Co.

EX-99.1

Exhibit 99.1

Crane Co. NEWS

Contact:

Richard E. Koch

Director, Investor Relations

and Corporate Communications

203-363-7352

www.craneco.com

CRANE CO. AND EMERSON ELECTRIC CO. SELL IMC JOINT VENTURE

STAMFORD, CONNECTICUT – December 18, 2007 - Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, announced today the sale of its joint venture company with Emerson Electric Co., Industrial Motion Control, LLC, also known as IMC, to DE-STA-CO, a Dover Company. As a result of the sale, Crane Co. will receive after-tax cash proceeds of approximately $33 million and record an after-tax gain of $6.0 million, or $0.10 per share, in the fourth quarter.

Mr. Eric Fast, president and chief executive officer of Crane Co., said, “This has been a successful and profitable joint venture that has created real value for our shareholders. In partnership with Emerson, we combined two non-core businesses facing a changing and challenging market, and created a leader in its market segment. Our joint venture has reached its objectives, and consistent with our agreement, we have successfully completed the planned sale.”

Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane provides products and solutions to customers in the aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power generation, automated merchandising, transportation and other markets. The Company has five business segments: Aerospace & Electronics, Fluid Handling, Engineered Materials, Merchandising Systems, and Controls. Crane

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has approximately 12,000 employees in North America, South America, Europe, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.

This press release may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements present management’s expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006 and subsequent reports filed with the Securities and Exchange Commission.

2007 - 30

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