Jon Adams Named Treasurer Of Columbus McKinnon Corporation
Columbus McKinnon Corporation (NASDAQ:CMCO), a leading designer,
manufacturer and marketer of material handling products, announced today
that its Board of Directors has appointed Jon Adams as Treasurer of
Columbus McKinnon Corporation (NASDAQ:CMCO), a leading designer, manufacturer and marketer of material handling products, announced today that its Board of Directors has appointed Jon Adams as Treasurer of Columbus McKinnon Corporation. In his role as Treasurer, Mr. Adams will lead the company’s global cash management and investment processes as well as its debt administration, risk management, and North American credit and collections functions. Greg Rustowicz, Vice President Finance and Chief Financial Officer of Columbus McKinnon commented, “We welcome Jon to the Columbus McKinnon team. We expect Jon’s depth of finance experience along with his leadership and analytical skills will be a great asset for us as we continue to expand our global footprint and execute our capital allocation strategies.” Mr. Adams joins Columbus McKinnon after most recently serving as the Finance Leader for the Silanes business for Momentive Performance Materials, where he was responsible for leading the planning, budgeting, reporting and financial analysis for the global business unit. In his time at Momentive Performance Materials, Mr. Adams served in a number of financial capacities each with progressively more responsibility. Prior to Momentive Performance Materials, he began his career with Ernst & Young. Mr. Adams is a CPA and earned a Bachelor of Science degree in Business Administration from Bucknell University and a Master of Science degree in Accounting from the University of Virginia. About Columbus McKinnon Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of material handling products, systems and services, which efficiently and ergonomically move, lift, position and secure materials. Key products include hoists, cranes, actuators and rigging tools. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available on its website at http://www.cmworks.com. Safe Harbor StatementThis news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future revenue and earnings, involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the effect of operating leverage, the pace of bookings relative to shipments, the ability to expand into new markets and geographic regions, the success in acquiring new business, the speed at which shipments improve, and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release.
Shareholders of Columbus McKinnon Corp. looking to boost their income beyond the stock's 0.6% annualized dividend yield can sell the September covered call at the $30 strike and collect the premium based on the $1.20 bid, which annualizes to an additional 7.4% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 8% annualized rate in the scenario where the stock is not called away.
Shares of Columbus McKinnon Corporation (Nasdaq:CMCO) were gapping up Thursday morning with an open price 13.5% higher than Wednesday's closing price. The stock closed at $13.88 yesterday and opened today's trading at $15.75.