Crane holdings, co. announces transaction to divest legacy asbestos liabilities

Stamford, conn.--(business wire)--crane holdings, co. (“crane,” nyse: cr), a diversified manufacturer of highly engineered industrial products, announced today that it has divested redco corporation (“redco”), a wholly owned subsidiary that holds liabilities including asbestos liabilities and related insurance assets to spruce lake liability management holdco llc (“spruce lake” or “spruce lake liability management”), a long-term liability management company specializing in the acquisition and m
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