MILWAUKEE–(BUSINESS WIRE)–As ahead announced, Actuant Corporation (the “Company”) has realigned its banking advertisement segments. The change is able for the Company’s fourth division of 2018. The alteration reflects changes in the operating anatomy of the Aggregation with the aggregate of the Company’s accoutrement and casework business and all OEM-related businesses into two operating segments: Automated Accoutrement & Casework (“IT&S”) and Engineered Apparatus & Systems (“EC&S”), respectively.
The IT&S articulation after-effects from the alliance of the above Automated segment, excluding the Precision-Hayes business, with the Hydratight and Mirage businesses from the above Activity segment. The new articulation concentrates on artefact sales and account as able-bodied as rental capabilities. Executive Vice President Jeff Schmaling will advance the segment.
The EC&S articulation is comprised of the above Engineered Solutions articulation and now includes the Precision-Hayes business and the above Activity articulation businesses, Cortland and Viking (which was bald in the additional division of Fiscal 2018). The articulation is focused on awful engineered apparatus for transportation, agricultural, architecture and added vertical markets and will be led by Executive Vice President, Roger Roundhouse.
In addition, the Company’s reportable artefact curve are actuality reorganized into the afterward structure: IT&S artefact curve – Artefact and Account & Rental; and EC&S artefact curve – On-Highway; Agriculture, Off-Highway and Other; Rope & Cable Solutions; Concrete Tensioning; and Off-Shore Mooring (divested in affiliation with the auction of the Viking business). The artefact band advertisement change is additionally able for the Company’s fourth division of 2018.
For allusive purposes, the Aggregation has included as an adapter to this absolution assertive unaudited actual banking after-effects for both the new and above-mentioned articulation and artefact band reporting. The adapted articulation presentation will be reflected in the Company’s accessible Anniversary Report on Form 10-K. The articulation and artefact band reorganizations do not appulse the Company’s audited circumscribed banking statements.
About Actuant Corporation
Actuant Corporation is a adapted automated aggregation confined barter from operations in added than 30 countries. The Actuant businesses are leaders in a ample arrangement of alcove markets including branded hydraulic accoutrement and solutions; specialized articles and casework for activity markets and awful engineered position and motion ascendancy systems. The Aggregation was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Actuant trades on the NYSE beneath the attribute ATU. For added advice on Actuant and its businesses, appointment the Company’s website at www.actuant.com.
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