AMHERST, N.Y., July 24 /EMWNews/ -- Columbus McKinnon

Corporation (Nasdaq: CMCO) announced today that it has signed a definitive

agreement to sell its Univeyor business to a newly-formed company

established by the owner of a Danish material handling company, in a

transaction expected to close on July 25, 2008. Prior to the transfer, the

Company will repay Univeyor's debt obligations of approximately $15.2

million.



    Columbus McKinnon announced its intent to divest Arden, Denmark-based

Univeyor in January 2008, as the subsidiary's sales channels, business

model and margins were not in line with the Company's long-term strategy

and performance goals. In fiscal year 2008, Univeyor's results negatively

impacted Company earnings by $10.1 million, or $0.53 per diluted share.



    In its first quarter of fiscal 2009 financial results, reported

separately today, Columbus McKinnon disclosed that it accounted for

Univeyor as a discontinued operation.

    About Columbus McKinnon



    Columbus McKinnon is a leading worldwide designer, manufacturer and

marketer of material handling products, systems and services, which

efficiently and ergonomically move, lift, position or secure material. Key

products include hoists, cranes, chain and forged attachments. 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 on

its web site at http://www.cmworks.com.



    Safe Harbor Statement



    This press release contains "forward-looking statements" within the

meaning of the Private Securities Litigation Reform Act of 1995. Such

statements include, but are not limited to, statements concerning future

revenue and earnings, and involve known and unknown risks, uncertainties

and other factors that could cause the actual results of the Company to

differ materially from the results expressed or implied by such statements,

including changes in accounting regulations and other factors disclosed in

the Company's periodic reports filed with the Securities and Exchange

Commission. The Company assumes no obligation to update the forward-looking

information contained in this release.






    Karen L. Howard

    Vice President - Finance and Chief Financial Officer

    Columbus McKinnon Corporation

    716-689-5550

    [email protected]