News

The Crosby Group to Commence Cash Tender Offer for All Outstanding Shares of KITO CORPORATION

2022-09-22

RICHARDSON, Texas, United States, and SHOWA-CHO, Yamanashi, Japan, September 22, 2022 – The Crosby Group, a leading provider of lifting and rigging solutions, and KITO CORPORATION, a leading manufacturer of material handling equipment with 90 years of experience in the development and production of hoists and cranes, today announced that they have secured all regulatory clearances for their business combination and that The Crosby Group will commence a cash tender offer to acquire all outstanding shares of KITO CORPORATION for JPY 2,725 per share on September 26. The cash tender offer price represents a premium of 64.3% compared to KITO CORPORATION’s undisturbed closing share price on May 13, the last trading day before the transaction was originally announced.

See More

Past Articles

Knowing the difference when selecting Grab Hooks

Contributed by Bob Kozickie, Technical Sales Support ManagerEdited by Christy Kutchma, Product & Marketing Associate There are three styles of grab hooks manufactured for overhead lifting:  Non-Cradle, Cradle, and Chain Shortening Grab Hooks. Each are designed to shorten, choke, or basket alloy chain slings in a variety of lifting applications. When use...

Trailer Safety Week!

Contributed by Cary Kronebusch, Senior Product Manager Edited by Christy Kutchma, Product & Marketing Associate Welcome to #TrailerSafetyWeek!  Peerless is a proud ally of this annual event.  Peerless supplies Cargo Control and Trailer Safety Chain Products to the trailer manufacturing industry. As a decades long provider to the industry and a 16 year m...

Chain Sling Identification Tag

Contributed by Bob Kozickie, Technical Sales Support Manager Edited by Christy Kutchma, Marketing Coordinator The single most important component on an alloy chain sling is the identification tag.  Per OSHA 1910.184, if the ID tag is missing or illegible, the sling must be removed from service. OSHA is diligent in enforcing this regulation.  Not only is having the ID t...

The Anatomy of an Alloy Chain Sling Failure

Contributed by Bob Kozickie, Technical Sales Support Manager Alloy steel chain slings are the most durable products used for lifting and rigging. So, why do alloy chain slings fail? Every year we read and hear stories of catastrophic chain sling breaks. When these failures happen, the broken sling components are then sent back to the sling manufacturer or a...

Shall and Should When Reading Regulations

Contributed by Bob Kozickie, Technical Sales Support Manager Governments have established regulations and standards within the workplace in order to provide the highest degree of safety for all employees. These regulations and standards have various degrees of authority depending on whether they are statutory, consensus, or 3rd party documents. When we read...