Crane, L-3 Reach Agreement To Market Electric Taxi System

FARNBOROUGH, United Kingdom, July 9, 2012 – Crane Aerospace & Electronics, a segment of Crane Co. (NYSE:CR), announced today, that an agreement has been reached with L-3 Space and Propulsion Systems, to develop and market the GreenTaxi™ Electric Taxi System.

The GreenTaxi™ system moves a commercial aircraft on the ground without using the aircraft’s main engines or ground service equipment, including tugs. GreenTaxi™ will provide significant economic and environmental benefits, such as reduced fuel consumption, lower ground operations costs and decreased emissions.

The GreenTaxi™ technology was successfully demonstrated on December 8, 2011 at the Frankfurt Airport in Germany, where more than 100 industry leaders watched as the GreenTaxi™ system was used to taxi an A320 without the use of main engine power. The demonstration took place over four days and included more than 20 hours of taxi and maneuver tests. It was conducted by a team led by L-3’s Magnet-Motor division and included Lufthansa German Airlines, Lufthansa Technik and the Frankfurt Airport Operating Authority, Fraport, with additional support by Airbus. The demonstration showed that the GreenTaxi™ system operates dependably, in varying runway conditions, at up to 30 kilometers per hour, making ground operations simpler, faster and more efficient.

Dave Bender, president of Crane’s Aerospace Group, said, “L-3’s approach to the electric taxi system is innovative and an industry first. By integrating permanent magnet electric wheel drive units onto the aircraft’s main landing gear, the GreenTaxi™ system provides optimum agility and dependability. Crane is proud to work with L-3 to bring this proven technology to market.”

Michael Wallace, president of L-3’s Space and Propulsion sector, added, “This agreement will combine our expertise in propulsion system solutions and our industry-leading electric motor technology with Crane’s leading market position in landing gear electronic systems and power electronics, as well as its proven capability to support high-volume production programs. Together, we will be able to provide a superior and more environmentally responsible capability than what is currently available in the industry. We are looking forward to providing the aviation marketplace with a solution that will save fuel and reduce carbon emissions during ground operations.”

Crane Aerospace & Electronics is a major supplier of systems and components for critical aerospace and defense applications. These systems and components are designed for some of the toughest environments – from engines to landing gear, satellites to medical implants and missiles to unmanned aerial systems (UAS). Product and service offerings are organized in solution sets and include Cabin Systems, Fluid Management, Landing Systems, Microelectronics, and Microwave, Power and Sensing & Utility Systems. For more information on Crane Aerospace & Electronics, visit www.craneae.com or http://newsroom.craneae.com, and for Crane Co., visit www.craneco.com. Crane Co. is a diversified manufacturer of highly engineered industrial products. Crane Co. is traded on the New York Stock Exchange as (NYSE: CR).

L-3 Magnet-Motor develops and produces electric propulsion systems for land vehicles, marine vessels, aircraft and industrial applications; permanent magnet integrated starter generators; permanent magnet motors; hybrid-electric systems; electric wheel drive motors; and AC and DC high- and low-power electronics and controls. To learn more about L-3 Magnet-Motor, please visit the company’s website at www.L-3com.com/MM.

Headquartered in New York City, L-3 employs approximately 61,000 people worldwide and is a prime contractor in C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The company reported 2011 sales of $15.2 billion. To learn more about L-3, please visit the company’s website at www.L-3com.com.

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