Press Release - The Crosby Group & Kito Corporation


RICHARDSON, Texas, United States, and SHOWA-CHO, Yamanashi, Japan, September
22, 2022 – The Crosby Group, a leading provider of lifting and rigging solutions, and KITO
CORPORATION, a leading manufacturer of material handling equipment with 90 years of
experience in the development and production of hoists and cranes, today announced that they
have secured all regulatory clearances for their business combination and that The Crosby
Group will commence a cash tender offer to acquire all outstanding shares of KITO
CORPORATION for JPY 2,725 per share on September 26. The cash tender offer price
represents a premium of 64.3% compared to KITO CORPORATION’s undisturbed closing share
price on May 13, the last trading day before the transaction was originally announced.

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Press Release - The Crosby Group & Kito Corporation

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Introducing the Kito SmartLok Self Locking Hook

When extra security is needed for strict safety requirements, this hook has your back. Kito's new SmartLok self-locking hooks are available as an option for our LB lever hoists and on the CB and CF hand chain hoists.Our SmartLok hooks are smaller and more compact than most self-locking hooks on the market, and the hook latch locks securely in place only to be opened whe...