Maxim announces share repurchasing

In the US, Maxim Crane Works Holdings Inc. announced Monday, 22 January, that it has completed its analysis of strategic business alternatives, which it announced in the middle of last year.

According to a company statement, Maxim's Board of Directors determined that “shareholder value can best be maximized in the future by continuing Maxim's focus of capturing incremental operating efficiencies and growing penetration in existing markets and evaluating potentially accretive acquisition opportunities.”

The board also authorized management and Goldman, Sachs & Co. to develop a share repurchase programme for its common stock, the details of which, the company said, will be announced in the near future.