Vending

Crane to divest engineered materials segment

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May 24, 2021

Crane Co., parent company of Crane Payment Innovations, has agreed to divest its engineered materials segment for $360 million to Grupo Verzatec S.A. de C.V., a Mexico based producer of fiberglass-reinforced plastic products and steel products, according to a press release.

Crane Co. also announced it has renamed its fluid handling segment Process Flow Technologies.

Besides engineered materials and process flow technologies, the company's business segments include payment and merchandising technologies and aerospace and electronics.