Columbus McKinnon calls remaining 10% notes

By Susanna Moon

Chicago, June 25 - Columbus McKinnon Corp. said it will redeem its $22.1 million remaining 10% senior secured notes due 2010.

The notes will be redeemed at a price of 105% of the principal plus accrued interest until but excluding the redemption date of Aug. 1.

The redemption is part of the company's strategy to cut debt to 30% of total capitalization. As of March 31, it was 41.6%.

The Amherst, N.Y.-based company designs and manufactures material handling products.

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