UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 18, 2022 (
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
(Address of Principal Executive Offices) | (Zip Code) |
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(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)) |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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ITEM 8.01 | Other Events |
On March 17, 2022, Crane Co. issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K.
ITEM 9.01 | Financial Statements and Exhibits |
(d) Exhibits
Exhibit No. |
Exhibit | |
99.1 | Press Release dated March 17, 2022, issued by Crane Co. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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. | ||||||
March 18, 2022 | ||||||
By: | /s/ Anthony M. D’Iorio | |||||
Name: Anthony M. D’Iorio | ||||||
Title: Senior Vice President, General Counsel and Secretary |
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Exhibit 99.1
Contact:
Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com
Crane Co. Reports Complaint filed by the Department of Justice to Block the Sale of Its Engineered Materials Segment
STAMFORD, CONNECTICUT March 17, 2022 Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, reported today that the Department of Justice (DOJ) has filed a complaint to enjoin the sale of its Engineered Materials segment to Grupo Verzatec, S.A. de C.V. (Verzatec). In the normal course, the Company expects to engage in a process with Verzatec, the DOJ and /or the courts to address the DOJs antitrust concerns regarding a minor overlap in a narrow range of material used in certain commercial building applications.
This press release may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on the managements current beliefs, expectations, plans, assumptions and objectives regarding Crane Co.s future financial performance and are subject to significant risks and uncertainties. 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, including risks and uncertainties related to the ongoing COVID-19 pandemic, that could cause actual results or outcomes to differ materially from those expressed or implied in these forward-looking statements. Such factors also include, among others: uncertainties regarding the extent and duration of the impact of the COVID-19 pandemic on many aspects of our business, operations and financial performance; changes in economic, financial and end-market conditions in the markets in which we operate; fluctuations in raw material prices; inflationary pressures; supply chain disruptions; the financial condition of our customers and suppliers; economic, social and political instability, currency fluctuation and other risks of doing business outside of the United States; competitive pressures, including the need for technology improvement, successful new product development and introduction and any inability to pass increased costs of raw materials to customers; our ability to value and successfully integrate acquisitions, to realize synergies and opportunities for growth and innovation, and to attract and retain highly qualified personnel and key management; the risks that any regulatory approval that may be required for the Engineered Materials divestiture is delayed or is not obtained, that the Engineered Materials divestiture does not close or that the related transaction agreement is terminated, or that the benefits expected from the Engineered Materials divestiture will not be realized or will not be realized within the expected time period; a reduction in congressional appropriations that affect defense spending and our ability to predict the timing and award of substantial contracts in our banknote business; adverse effects on our business and results of operations, as a whole, as a result of increases in asbestos claims or the cost of defending and settling such claims; adverse effects as a result of environmental remediation activities, costs, liabilities and related claims; investment performance of our pension plan assets and fluctuations in interest rates, which may affect the amount and timing of future pension plan contributions; and other risks noted in reports that we file with the Securities and Exchange Commission, including the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and subsequent reports filed with the Securities and Exchange Commission. Crane Co. does not undertake any obligation to update or revise any forward-looking statements.
Document and Entity Information |
Mar. 17, 2022 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | CRANE CO /DE/ |
Entity Incorporation State Country Code | DE |
Entity Address, State or Province | CT |
Amendment Flag | false |
Entity Central Index Key | 0000025445 |
Document Type | 8-K |
Document Period End Date | Mar. 17, 2022 |
Entity File Number | 1-1657 |
Entity Tax Identification Number | 13-1952290 |
Entity Address, Address Line One | 100 First Stamford Place |
Entity Address, City or Town | Stamford |
Entity Address, Postal Zip Code | 06902 |
City Area Code | 203 |
Local Phone Number | 363-7300 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Stock, par value $1.00 |
Trading Symbol | CR |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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