Crane NXT Goes for Growth as a Newly Independent Company

Crane NXT has announced the completion of its separation from Crane Co., the US-based industrial products and processes conglomerate, and its launch as an independent, publicly traded company. Crane NXT began trading on the New York Stock Exchange on 4 April under the ticker ‘CXT’, in celebration of which the leadership team rang the New York Stock Exchange’s Closing Bell® that day. Crane NXT is headed by CEO and President Aaron W Saak, who was appointed last November.

Crane Co. announced its intention to separate into two companies just over a year ago (see CN April 2022), with the objective of optimising investment and capital allocation, accelerating growth, and unlocking shareholder value. Crane NXT takes on the payments side of the business, what was knownx as Payments and Merchandising Technologies, whilst the aerospace/electronics and process flow businesses now form Crane Company.