Kito Americas News

Harrington Hoists, Inc. is celebrating 150 years in the hoist business. The company was established in 1867 by Edwin Harrington, a machinist and inventor, when he started a machine shop and hoist business in Philadelphia. His company thrived as a result of his innovative ideas and continual improvements to the design and production of hoists. Throughout his lifetime, Harrington obtained several patents and was best known for developing one of the first electric hoists in 1896. In the years that followed, Harrington Hoists, Inc.

Kito Americas, Inc. announced today that the company has entered into a stock purchase agreement to acquire Peerless Industrial Group from Westview Capital Partners II, L. P. by purchasing all the shares of Peerless Industrial Group, Inc. The share transfer of Peerless shall be executed subject to the terms and conditions in the Stock Purchase Agreement. Kito Americas, Inc. currently operates Harrington Hoists, Inc. and Kito Canada (KCI) businesses in North America and is the largest subsidiary of the Kito Corporation of Japan. Kito is listed on the Tokyo Stock exchange (TSE1) under the stock ticker 6409. Kito Americas will, by combining with Peerless, expand its product to better serve its customer segments around the world and strengthen its North American business.

Harrington Hoists, Inc. has expanded into South America under the Kito brand. In doing so, Harrington has launched the newly created Kito Americas; a Kito brand to support these markets. “This is an exciting time for Harrington” commented Carlo Lonardi, VP Sales & Marketing, “for the first time Kito Corporation has sanctioned our expansion into the South American marketplace. Headed up by International Sales Manager Jim Small, this new venture will bring an increased level of service and improved delivery times to these markets. “Our business relationships in South America will have that solid foundation of Harrington service” commented Small.