Shared Values
All through its history, Crane Co. has had an unwavering assurance to the phrases and ideals of our founder, Richard Teller Crane. That commitment – which set the standards for a small firm whose landmark improvements helped to drive the American Industrial Revolution – has guided our actions and investments for over a hundred and fifty years. It continues to guide us as a world, strategically linked, built-in operating firm of core companies which can be working along with shared values and shared discipline to achieve worthwhile growth.
“I am resolved to conduct my business within the strictest honesty and fairness; to avoid all deception and trickery; to deal fairly with each customers and competitors; to be liberal and simply towards workers and to place my whole thoughts upon the corporation.”
-R.T. Crane, July four, 1855
“You can’t run a railroad or construct a dam, function a paper mill or lay a sewer, dig an oil nicely or warmth a hospital, or launch a battleship and even take a showers without using one of the more than forty,000-odd merchandise which can be made by Crane Co.”
– Fortune magazine, July 1936
This commentary in the July 1936 concern of Fortune journal summed up our firm’s position well, and within ten years of that article, aviation and excessive pace flight had been extra to the list. Right this moment, Crane innovation will be discovered behind the scenes virtually in all places, helping everyday life run efficiently.
Vision with out execution is hallucination.
– Thomas Edison
We’re united in utilizing the Crane Enterprise System to build a world network of people and solutions with constant security, quality, delivery, and price that generates worthwhile organic progress, from one aspect of the globe to the other. We execute over 500 kaizen occasions yearly to drive continuous enchancment all through our worldwide operations.
Whether evaluating and rewarding folks, creating an annual plan, implementing a method deployment course of, visually managing results in factories and offices, or linking worth streams, this widespread system ensures that every one of our businesses are disciplined and centered as one related physique, on attaining our company objectives of sustainable, worthwhile growth and strong free money flow. We imagine that the successful deployment of this highly effective system, within the palms of the very best talent, and supported by strategic acquisitions, is crucial power behind our capability to grow.
Crane’s acquisition philosophy is to use its extra money stream for acquisitions that strengthen its present businesses. We execute on this philosophy with an acquisition technique that’s based on 4 key ideas:
The goal business should present clear and direct enchancment to an current Crane Co. business unit’s aggressive position. Preferrred candidates will improve product or customer scope, improve prices or improve investment utilization.
An existing Crane Co. unit and management team should sponsor each acquisition. Line managers decide the strategic course of our units. No important funding, especially acquisition, will occur with out the passionate advocacy, committed support and leadership of an operating administration team.
A gorgeous acquisition candidate will have a high calibre administration group keen and keen to hitch with the sponsoring Crane Co. enterprise unit. We believe that marvelous individuals make first-class things happen.
Each acquisition will generate a major contribution to shareholder value. Crane Co. evaluates all strategic decisions on the potential to increase the worth of the business.
On the similar time that we glance outside Crane for strategic acquisitions, we also look for added income from having units work more carefully collectively and from “trimming around the edges” when we establish Crane businesses that aren’t a wonderful match and are too small to be economic for us. These strategic linkages, which enable us to be a more built-in working firm, continue to be an essential part of our growth strategy.