Stamford, Conn.-based Crane Co., a diversified manufacturer of industrial products for the construction, chemical, aviation and recreational vehicle industries, reported its fourth-quarter profit climbed as sales grew.
The company earned $38 million, up 8% from $35.3 million in the same period the previous year. Sales rose 15% to $581.7 million from $506.3 million.
For the full year, the company earned $165.9 million, representing a 21% increase from $136 million in 2005. Sales climbed 10% to $2.26 billion from $2.06 billion.
Crane Co. is parent to Crane Composites Inc., a Channahon, Ill.-based sidewall supplier that has been sued by National RV Holdings Inc. The Perris, Calif., manufacturer claimed Crane Composites cost the company at least $8 million due to defective materials.
In late September, Crane Co. purchased composite panel supplier Noble Composites Inc., Goshen, Ind.