American Crane Corporation

American Crane Corporation
Subsidiary of Terex
Industry Construction Equipment
Financial Services
Predecessor American Hoist & Derrick
Founded 1882 (1882)
Founder Frank Johnson, Oliver Crosby
Headquarters Wilmington, North Carolina, United States
Area served
 Worldwide
Key people
 Ronald M. DeFeo, Chairman and CEO
Products Cranes
Parent Terex

American Crane Corporation is an American manufacturer of construction cranes based in Wilmington, North Carolina. It manufacturers lattice boom crawler cranes with capacities ranging from 50 to 275 tons. The American Crane Corporation was founded in 1882 as the Franklin Manufacturing Company but in 1892 the name changed to American Hoist & Derrick. The company manufacturers terrain cranes, crawler cranes and tower cranes. In 1998 American Crane Corporation was acquired by Terex for $27 million.[1] The purchase of American Crane Corporation brought Terex a manufacturer of lattice boom cranes.[2]

History

American Hoist & Derrick headquarters of St. Paul, Minnesota in 1895.

Beginnings: 1884–92

The Franklin Manufacturing Company was established in 1884 by Frank Johnson and Oliver Crosby in St. Paul, Minnesota. One year later Franklin Manufacturing Company changed its name to American Manufacturing Company. A wire rope clamp designed to loop wire cable without the losing the integrity of the wire was invented by Oliver Crosby in 1886.[3] American Manufacturing Company invented further enhancements to the construction industry by establishing steam powered hoists in 1889 and the largest electric hoists up to 15 hp.

American Hoist & Derrick (AmHoist): 1892–1985

In 1892 American Manufacturing Company became known as American Hoist & Derrick for 106 years. The first mobile crane was invented in 1895 called the Traveling Derrick. It consisted of a revolving derrick and steam hoist mounted on a rail-car like wheels. The ditcher, flatcar mounted crane designed to scoop out dirt on either side of the railroad, was invented by Oliver Crosby in 1904.[4] The first crawler was established in 1923 and made cranes mobile. The company became international when the Yokohama Warehouse was constructed in 1905.[5] Major construction projects such as the Panama Canal and Mount Rushmore used cranes from American Hoist & Derrick.[5] American Hoist & Derrick reached 467 on the Fortune 500 list with a total revenue of $464.2 million.[6]

American Crane Corporation

In 1985 American Hoist & Derrick changed its name to Amdura and in that same year a group of investors purchased the business. The result of the purchase was a new company called the American Crane Corporation. In 1998 Terex acquired the American Crane Corporation.[7] American Crane gradually built its market share after the 1998 acquisition with an estimated 70 crawler cranes purchased in 1999.[8][9]

Gallery

References

  1. ↑ Brezonick, Mike. "The Quite RESURRECTION OF TEREX CORP". versalifteast.com. Diesel & Gas Turbine Publications. Retrieved September 7, 2015.
  2. ↑ "Wilmington". terex.com. Retrieved September 5, 2015.
  3. ↑ "OLIVER CROSBY – 2005 INDUCTEE". minnesotainventors.org. Retrieved September 5, 2015.
  4. ↑ "OLIVER CROSBY – 2005 INDUCTEE". minnesotainventors.org. Retrieved September 5, 2015.
  5. 1 2 "Inventory of the Modern Methods of Loading Logs Brochure and Photographs, circa 1904". foresthistory.org. Retrieved September 5, 2015.
  6. ↑ "American Hoist & Derrick". fortune.com. Fortune 500. Retrieved September 15, 2015.
  7. ↑ "American". terex.com. Retrieved September 5, 2015.
  8. ↑ Bishop, Bill. "Growing pains". cranestodaymagazine.com. Cranes Today. Retrieved September 7, 2015.
  9. ↑ "AMERICAN HOIST AND DERRICK Co". vannattbros.com. Retrieved September 15, 2015.
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