RICHARDSON, Texas and SHOWA-CHO, Japan — The Crosby Group and KITO Corp., parent company of Harrington Hoists, have entered into a definitive agreement to combine both businesses. The transaction will be effected through a cash tender offer by The Crosby Group to acquire all of the outstanding shares of KITO. The tender offer is expected to be completed in the second half of this year, subject to customary closing conditions including regulatory clearances from relevant authorities.

The combined company will be better resourced and ultimately better positioned to serve customers, team members and communities globally through additional investment in products, people and facilities. The combination will foster innovation and enable customers to benefit from a broader portfolio of products across a global landscape as well as increased levels of service, support and training.

For more information, visit www.thecrosbygroup.com or call (214) 974-9714.