Columbus McKinnon's Innovative Battery-Powered Hoist Named 2024 Product of the Year by Material Handling Product News
Rhea-AI Summary
Columbus McKinnon's BatteryStar™ Battery-Powered Chain Hoist has been awarded the 2024 'Product of the Year' in the Overhead Handling category by Material Handling Product News. The innovative product combines the lifting strength of an electric chain hoist with the portability of a manual hoist, powered by lithium-ion battery technology.
The BatteryStar features a quick-swap battery system and brushless motor technology, eliminating the need for manual operation or power source access. The product has exceeded early demand expectations since its Q2 launch and is being sold under the CM® brand in North and Latin America and the Yale® brand in Europe, Middle East, Africa, and Asia Pacific.
Positive
- Product received prestigious industry award, enhancing market recognition
- Early demand has exceeded company expectations since Q2 launch
- Product creates new market category with potential for long-term growth
- Global distribution through established CM® and Yale® brands
Negative
- None.
News Market Reaction
On the day this news was published, CMCO declined 0.99%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
BatteryStar™ Hoist Further Strengthens Columbus McKinnon's Position as a Leader in Intelligent Lifting Technology
"The BatteryStar is a state-of-the-art lifting tool that represents the next step in lifting innovation, combining the lifting strength and speed of an electric chain hoist with the portability of a manual hoist," said David Wilson, President and Chief Executive Officer. "We are thrilled to receive this award for this first-of-its-kind technology, as it's a testament to our customer-centric focus on innovation. Early demand has exceeded our expectations since the product's launch in the second quarter and we're excited by the long-term potential of this new product category."
The BatteryStar combines Columbus McKinnon's industry-leading hoist design with best-in-class, lithium-ion battery and brushless motor technology. The result is a first-of-its-kind hoist that provides the lifting strength and speed of an electric chain hoist and the portability of a manual hoist without the need for time-consuming manual operation or access to a power source. Built for convenience, operators can simply snap in a battery, and they are ready to lift. When a replacement battery is needed, the BatteryStar allows an operator to replace the battery quickly and easily for minimal operation interruption.
The BatteryStar is sold by Columbus McKinnon under the CM® brand in
About Columbus McKinnon
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of intelligent motion solutions that move the world forward and improve lives by efficiently and ergonomically moving, lifting, positioning, and securing materials. Key products include hoists, crane components, precision conveyor systems, rigging tools, light rail workstations, and digital power and motion control systems. 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 at www.cmco.com.
Contacts:
Kristine Moser |
VP IR and Treasurer |
Columbus McKinnon Corporation |
704-942-3253 |
kristy.moser@cmco.com |
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SOURCE Columbus McKinnon Corporation
FAQ
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