Woods CRW

Wood’s CRW Celebrates 45 Years in Business

By Mary Reed CEG CORRESPONDENT

Now operated by the second generation, Wood’s CRW Corporation is looking back on 45 years as a family-owned business specializing not only in construction equipment, sales, service and support, but also solving customer problems.

Wood’s CRW Corporation opened its doors as C.R. Wood Corporation in South Burlington, Vt., in 1961. It was founded by Charles R. “Bob” Wood Sr., who was born in Nova Scotia of American parents.

As a young man Bob Sr. was employed by General Dynamics in San Diego. The company manufactured aircraft and various defense products, and he worked on radar devices. He then went to work for his uncle, Howard Danner, at Parker Danner Equipment Company of Hyde Park, Mass., as a salesman. After moving to work at the company’s Vermont branch, he subsequently went into business for himself, opening an office in South Burlington, Vt. The company he founded, C.R. Wood Corporation, was a general line equipment house, providing contractors with construction equipment and parts and service.

“While running it,” Bob Sr. recalled, “I was always looking for new solutions to help the contractors become more productive, which led to expanding into selling heavy equipment. We were in on the ground floor with the first hydraulic cranes, aerial lifts and hydraulic excavators back in the ’60s and ’70s. We are also responsible for l4 asphalt plants in New England as well as approximately 30 crushing plants in the same geographic area.”

C.R. Wood Corporation handled heavy equipment sales with smaller equipment rented and sold by its associated business, Rentz Corp.

The two companies were combined under the Wood’s CRW Corporation name.

Bob Sr. described how his company began to grow.

“We were one of JLG’s first distributors of aerial lift equipment in the country and we had a sizable rental fleet.”

According to family lore, Bob Sr. declared he was going to put a Drott in every excavating contractor’s garage. He almost did it, since CRW Corp. was the first dealer in New England offering Drott’s hydraulic excavators.

“We sold over 400 in Maine, New Hampshire and Vermont before they were purchased by J.I. Case,” Bob Sr. recalled.

In the early 1980s, shortly after J.I. Case purchased Drott, CRW Corp. lost the dealership to the local Case distributor. It was crippling to the company, since throughout the ’70s Drott equipment had represented the majority of its business. It was an obstacle the company overcame by expanding the equipment lines it offered its customers.

Wood’s CRW Corporation opened its doors as C. R. Wood Corporation in South Burlington, Vt., in 1961. It was founded by Charles R. “Bob” Wood Sr. 2

Chris Palmer is president of CRW Corp.

Bobby Wood is CRW Corp.’s chief operating officer.

“In the late ‘70s and early ‘80s hydraulic boom cranes came on the scene as a viable option over the lattice boom machines in some applications. We sold a lot of the P&H Omega series cranes in those years.

We are still taking many of those machines back in trade today,” Bob Sr. noted.

CRW Corp. is now run and owned by the Wood’s two sons, Chris Palmer, president, and Charles R. “Bobby” Wood II,, chief operations officer.

Palmer began working for CRW Corp. in his teens. Throughout high school and for most of his college summer vacations he worked at tasks ranging from sweeping floors to selling small equipment and delivering rental equipment. After graduating from the University of Vermont with a business degree he left for Boston, where he spent four years working for the now defunct Bank of New England and then moved to Fleet Bank’s Equipment Finance Department. It was, he said, “a tremendous experience for a small town kid to live in a big city like Boston.”

ture of my own,” he recalled.

In 1992 Palmer moved back to Vermont, where the company was undergoing a difficult period.

“The professional experience I received from working at the bank became a huge asset when I returned to the family business,” he said.

“My parents were very forthright with me that financially the company was going through a tough time.”

He began working and bidding as a subcontractor in the contract sales division. At the time he was convinced, as he put it, he wanted nothing to do with the rest of the business.

However, this conviction did not last long.

CRW Corp. had always been involved in the mobile crane and aerial lift business in northern New England and upstate New York, and Bob Wood Sr. asked his stepson if he would be willing to help him with calling on that market segment.

“The early 1990s were not a boom time for the mobile cranes business,” Palmer said. “However, by spending time with contractors and crane service owners, I started to learn it was a market that was not being catered to by anyone else in the region. Many of my cold calls were met with a corresponding cold shoulder, as many other people were also going through a tough time, and the last thing they wanted to do was have someone calling them about buying a new crane.”

He therefore switched focus, asking them if they might be interested in selling one of their machines — and that made a huge difference in

A Difficult Time During his time in Boston, Palmer was working part-time on his MBA at Babson College, and ultimately his parents asked if he was interested in returning home to run CRW Corp.’s contract sales division.

“In 1992, times in the construction equipment business were not good. Things at the bank were in transition, I had met my future wife, and I had aspirations of spinning the contract sales division off as a ven3

CRW Corp.’s relationship with Link-Belt is exceptional, highlighted by the company’s receipt of eight Link-Belt awards since 1997, including six as Top Five Dealer.

aspects of the business. In the early ’80s he was trained in the parts and service section under 20-year employee Reggie Emch, while also assisting service personnel refurbish equipment at night and on weekends.

During the mid ’80s he worked as an inside sales and rental associate, as well as profiling the customer base and developing a sales territory, which he covered through 1992, focusing on general and site contractors.

“My best teammate at that time was Ken Thomas, currently CRW Corp.’s Earthmoving Division sales manager,” he stated. “At that time CRW Corp.’s sales staff focused on being industry specialists, so Ken and myself had customers located in the same geographical area. This actually worked very well because we not only sold heavy equipment, but also light equipment and supplies. We regularly delivered orders to each other’s customers.”

In the early 1990s, both the industry and the company were working through difficulties.

“Hundreds of customers had closed their doors, unable to pay their bills,” Bobby said.

“CRW Corp. downsized, cut operating costs and refocused. With the emerging superstores, it was decided to become more focused on heavy equipment. By then, while I continued to cover primary accounts, I also spent a large part of my time overseeing operations.”

his reception.

“Now someone was approaching them as a problem solver instead of just trying to sell them something. It was a lesson that has made a huge impact on me professionally. We sold and brokered a lot of used cranes back then,” Palmer acknowledged. “Working with Bob Sr. and, more importantly, the customer base, I became a much better listener and questioner. It takes probing questions by a good salesperson to help get to the root of the problem and come up with the best possible solutions.”

Palmer learned in those early days that customers liked talking to someone who was a specialist.

“Instead of having someone call on them selling ‘construction equipment,’ they really appreciated someone that had a higher level of understanding of the application and their business,” he said.

When its employees are on a customer’s site, the company expects them to be able to demonstrate how the products can lower the customers’ operating costs by solving customer problems. CRW Corp. is committed to training and focusing its sales staff and to ensuring they understand the industries in which they make calls as well as the individual customers business models. It therefore spends a great deal of time and resources training its salesmen in order to achieve this aim.

Bobby Wood was, as he puts it, “born and raised in CRW Corp., having started sweeping floors and taking out trash when I was able to support a broom.”

He has worked with the company throughout school, continuing until he joined the company full-time in 1983 with the intention to learn all

Earthmoving Division In 1993, Bobby was approached by the Samsung Construction 4

Since 2000 CRW Corp. has won several dealership awards for market share as well as consistently ranking well above Volvo’s national averages for market share in excavators and compact equipment.

Equipment Company. Samsung indicated it was interested in CRW Corp. handling its line. They were able to pre-sell several machines to longtime customers, who knew CRW Corp. would stand behind their purchases.

“Samsung made a cost-effective, high quality performance excavator and we found many customers were impressed with our demos and the level of technical understanding Bobby had,” Palmer said. “Slowly we began to have an impact on the local marketplace.”

By 1998 it was clear that the company needed to make a more substantial investment on the product support side of the business. The company’s machine population and geographic territory had grown substantially and it was critical that it keep its customers up and running. It was very evident that instead of looking outside for a vice president of product support, that Bobby was a perfect fit. This meant the company had to locate a top-notch excavating sales/product manager to replace him on the sales side, since as Palmer pointed out it was critical to find someone who understood and was committed to the company’s “problem solving” philosophy.

Fortunately, CRW Corp. was able to re-hire Bobby’s 1980s sales partner Ken Thomas, allowing Bobby Jr. to devote what he estimates as 80 percent of his time to building the product support team.

Thomas began the first of his tours with the company in 1984 as an outside sales representative shortly after he completed college.

“At that time the company was selling and renting everything for all

Ken Thomas is CRW Corp.’s manager of the earthmoving equipment division.

5

LINK-BELT CONSTRUCTION EQUIPMENT COMPANY Lexington, Kentucky | www.linkbelt.com 7098-07 576

6

CRW Corp. moved to its current location in Williston, Vt., in 2000.

Designed by Bob Sr. and Bobby Jr., the 24,000 sq. ft. facility enables the company to more efficiently service customers’ equipment as well as providing a better and safer workplace for technicians.

the construction trades, from power tools to cranes,” he recalled. “In 1991 I left and entered the heavy equipment market.”

After several years selling equipment manufactured by Caterpillar, Case and Kobelco, he decided to look for a change and returned to CRW Corp. in 1998 as sales manager for the earthmoving division.

When the Korean economic crisis hit, the future of Samsung Construction Equipment was in question, and when Samsung was purchased by Volvo Construction Equipment, CRW Corp.’s future with the product became in doubt.

“At the time, the general thinking in the industry was that smaller dealers could not compete,” Palmer said. “However, Vermont did not have a Volvo dealer at the time and Volvo decided we were their best option for covering the territory.”

After a year of “negotiating and writing business plans” CRW Corp. signed a dealer agreement with Volvo for its full product line. With Volvo’s purchase of Samsung, CRW Corp. has been able to continue to support the machines it sold during the 1990s, which resolved one of its biggest concerns.

“You have to continue to take care of the people that help you ‘keep the lights on’,” Palmer declared.

Thomas puts a large part of his division’s success down to its position as a market leader in attachment sales, noting since 2000 the company has won several dealership awards for market share as well as consistently ranking well above Volvo’s national averages for market share in

The CRW Earthmoving sales team poses with a new Volvo L110F. Pictured (L-R) Scott Perren, Mike Channon and Municipal Specialist, Bob West. (Not pictured is Carl Hughes) 7

8

A technician works on a crane inside CRW Corp.’s Syracuse shop.

excavators and compact equipment.

“As Volvo’s product line has grown, the earthmoving division has grown from a sales force of one to four outside sales associates, a fulltime sales administrator and a rental/inventory manager, plus a number of technicians with fully outfitted service trucks,” he said.

“Our Volvo equipment line is the best in the industry for attachmentready capabilities, which can be very costly for other manufacturers to add on,” Thomas went on. “One of the biggest changes in our business has been the high percentage of machines sold with hydraulic quick couplers and multiple attachments. Because of this, along with our ability to offer very competitive finance rates as well as customized terms through Volvo Financial Services, we look forward to continued growth for the next 45 years.”

Another key to CRW Corp’s success as a Volvo dealership is its affiliation with the manufacturer’s other New England dealers, allowing them to meet regularly to share best practices and swap inventory, in the process keeping all dealerships as competitive as possible.

Move to New Facility In 1999, it was decided the company had outgrown its premises in South Burlington, where the service facility in particular needed more space to operate. By then CRW Corp. had had several successful years and considered it time to invest in the future, and in particular its ability to support the equipment it was selling.

Debbie Packard is CRW's Sales and Marketing Administrator.

In addition to her administrative duties, she publishes CRW's "North East Crane Report" and "Today's Dirt."

9

CONGRATULATIONS TO WOODS CRW CORPORATION FOR 45 YEARS OF EXTRAORDINARY SERVICE TO THE CONSTRUCTION INDUSTRY.

TOGETHER, WE GET THE JOB DONE.

Volvo Construction Equipment is pleased to have been associated with Wood’s CRW for many years, working together to help you reach the highest levels of productivity, performance and profitability with the right equipment and comprehensive product support.

Wood’s CRW, your working partner dedicated to serving you, is your

MORE CARE. BUILT IN.

authorized Volvo Construction Equipment dealer in Vermont. Call Wood’s CRW for your construction equipment needs.

Volvo Construction Equipment

Wood’s CRW Corp.

795 Marshall Avenue Williston, Vermont 802-658-1700

10

www.volvoce.com/na

A CRW Corp. technician works on a boom truck crane.

CRW Corp. moved to its current location in Williston, Vt., in 2000.

Designed by Bob Sr. and Bobby, the 24,000 sq. ft. facility enables the company to more efficiently service customers’ equipment as well as providing a better and safer workplace for technicians.

“The decision to build the new facility was a scary one. It was a huge investment for us and I was not 100 percent behind it,” Palmer admitted.

However, he now considers it one of the best investments the company has ever made. Indeed, CRW Corp. has been complimented by a number of visitors, who have described it as one of the best construction equipment facilities on the east coast.

Crane and Lifting Divisions Although CRW Corp. has the Volvo construction equipment line for Vermont, it covers all of New England and New York State with its crane and lifting equipment division.

The company had offered P&H cranes since the early 1970s.

Bob Coogan, who had been their Trojan loader representative in the ’70s was now district sales representative for Link-Belt Construction Equipment Company, was looking for a strong crane distributor for New England. He persuaded the CRW Corp. management team that LinkBelt was heading in the right direction.

CRW Corp. began offering Link-Belt equipment in Vermont, New Hampshire and western Massachusetts in 1997. As a result of its success in these markets, it opened a branch in Worcester, Mass., in 1998, and

Justin Faciszewski runs the parts department in the New York State facility.

11

12

then began selling in Connecticut, Rhode Island and eastern Massachusetts. Maine was added in November 1999, rounding out complete coverage for the New England states. New York state, north of Westchester County, was added to its territory in 2003.

After many years of doing business in eastern New York, CRW Corp. decided its next branch there would take it into the central and western parts of the state.

The company hired crane industry veterans David Burkhard to oversee the service side of this new venture, and Greg George and Carl Hughes as territory salesmen. Working from their homes for the first couple of years, they were responsible for helping build the customer base and operate the new branch in New York State, for which the company purchased a facility in Central Square, N.Y., in 2004.

Mike Sylvia is manager of the company’s southern New England branch, having arrived in 2001. He oversees product support and sales and is part of the company’s senior management group.

“We are involved in all aspects of the lifting industry, such as crane and tree service companies, marine construction, steel erection, contractors and builders, as well as many other types of companies that utilize this type of equipment,” he said.

“From this location we cover all of southern New England. We like being located in Worcester, Massachusetts, because it’s centrally located, which allows us to better serve our customers,” Sylvia continued.

“Our focus has been to build a strong relationship with our customers based on quality products and support and solving customer problems both before and after a sale. We are fortunate to have several employees with extensive backgrounds in the industry and many years of experi-

Dave Burkhard oversees service at CRW Corp.’s, New York facility.

Mike Sylvia is branch manager of CRW Corp.’s Worcester, Mass., facility.

Greg George works in the sales department at CRW Corp.’s New York facility.

13

The company provides a 24/7 emergency service system and fields a professional crew of technicians. CRW Corp. also has signed the AED Foundation Commitment to Knowledge Pledge, committing it to providing each employee with the opportunity for at least 40 hours of additional training annually.

ence.”

Palmer described CRW Corp.’s relationship with Link-Belt as exceptional, highlighted by the company’s receipt of eight Link-Belt awards since 1997, including six as Top Five Dealer.

“Link-Belt has always been the leader in the lattice boom, hydraulic truck cranes and crawler cranes under 200 tons,” he said, “but in the last few years they have made significant advances in the design, performance and quality of their Flat Deck series rough-terrain cranes and their larger crawler cranes over 200 tons.”

CRW Corp. has been a National Crane Dealer since 1997.

“Long time National Crane territory manager Bob Morgan noticed the job we were doing with the Simon Ro line of boom trucks. He convinced us that National Crane offered some of the best solutions for our customers, in particular their rear-mounted cab units,” Palmer went on.

“Since then we have become National Crane’s largest distributor in the northeast.”

Palmer observed CRW Corp. seemed to concentrate particular efforts on larger machines, ranging from 26 to 40 tons, with many being rearmounted.

“We also have tried to differentiate ourselves by offering a better quality chassis than many of our competitors. We call it the ‘CRW Chassis’,”

Marc Varricchione is boom truck product manager and territory sales representative for N.H., Maine and northern Mass.

14

Exceptional service is the hallmark of every successful business. The company's parts department stocks a large inventory of accessories and attachments including bucket teeth, cab heaters, radio load and anti-two block devices, outriggers pads, pallet forks and man baskets to name a few.

tion or private sale, but you won’t be getting a surprise when you get it home and find it has a worn-out turntable bearing or bent boom sections,” Palmer promised.

CRW Corp. believes it may be the only distributor doing business with America’s big three crane companies — Link-Belt, Terex and Manitowoc. Other leading brands offered by this division include Tadano boom trucks, Terex cranes, Genie/Terex telehandlers and Shuttlelift industrial cranes.

he said. “In the past we offered the cheapest truck available and focused on the chassis as a necessary evil. Now we offer better warranties, engines, cab features and other options than our competitors.”

The company is now stocking smaller truck-mounted machines manufactured by Tadano on which it will install the customer’s choice of chassis. These cranes are a unique, cost-effective and high quality option for some users, especially in non-CDL class chassis requirements as well as tractor-mounted machines.

“We have been listening to the customers,” Marc Varricchione, product manager for the boom truck lines, said. “Many building trades are looking for non-CDL options that allow them to work more productively. We can now offer smaller lifting solutions that can deliver product and set it in place, plus have the option of using it with a personnel basket. We are a big fan of Tadano’s radio remote control option plus their three position out and down outrigger load charts for working in confined areas.”

CRW Corp. sells many used cranes and lifts throughout North America and the rest of the world. This part of its business is unique in that most of these pre-owned machines must pass an annual OSHA inspection prior to being retailed.

“We may not sell a machine as cheaply as you might get one at auc-

Rental Division In addition to sales and service, CRW Corp. offers a broad range of rental options for customers. Rental equipment includes industrial cranes (8.5 to 22 tons), rough-terrain cranes (30 to 90 tons), crawler cranes (50 to 200 tons) and boom trucks (10 to 33 tons).

In the Vermont branch, CRW Corp. offers excavators from 3,500 to 85,000 lbs. (1,587 to 38,555 kg), loaders from 0.75 to 6 yd. (0.7 to 5.4 m), skid steer loaders, loader backhoes, screeners, fork lifts, wheeled excavators, soil compactors and a full line of attachments.

Rental-purchase options also are available on most models. CRW Corp. is able to provide particularly cost-effective machines, given it rents machines with quick couplers for swifter changing of attachments.

15

Congratulations Woods CRW on your 45th Anniversary National 13110A on Sterling LT9513

National 18142 on Western Star Chassis

Sterling Bullet™ Crane

Tadano TM1882 on Western Star Chasssis

Proud supplier of Western Star & Sterling trucks to Woods CRW’s truck crane customers 149 Gold Mine Road Flanders, NJ 07836 973-347-4210 973-347-0170 Fax

7550 N. Crescent Blvd.

Pennsauken, NJ 08110 856-773-4600 856-773-4610 Fax

16

1784 Route 9 Toms River, NJ 08753 732-341-2128 732-341-8854 Fax

Congratulations for a successful 45 years of service to your construction industry.

We are here to support CRW in any way we can.

Tadano America Corporation

Need a Lift?

GE Capital Solutions

The diverse product line from Genie offers you

Keeping the construction industry moving for 45 years!

Genie and Woods CRW will take you there.

efficient solutions to your jobsite challenges with outstanding performance, reliability, safety and value.

Join Woods CRW’s 45th anniversary celebration and

GE Capital Solutions is proud to congratulate Woods CRW Corp.

contact us today.

07IND356 Š 2007 Genie Industries

17

A CRW Corp. technician works on a Volvo excavator.

Additionally, the Volvo machines typically offer fuel consumption advantages over many competitors, according to the company.

Rental manager Albert Curtis is based at the company headquarters in Williston, Vt. Prior to joining CRW Corp. in November 2005, he had worked as a warehouse/inventory control manager.

Curtis handles contracts and other paperwork for crane rentals for all three branches of the company and for the rental and sales of earth equipment offered by the Williston office.

“I also set up trucking for the rental moves as well as incoming and sold units,” Curtis explained. “In addition, I work with our finance companies to conduct audits and keep track of all our equipment.”

“The rental division currently has approximately 145 pieces of new and used earthmoving equipment and cranes,” he added.

Product Support After-sales support is critical. As Bobby declared, “The saying ‘Sales sells the first machines, service sells the rest’ should be updated to ‘Product support sells them all.’”

Having Bobby Wood overseeing after-market support for all three branches has given the company a big advantage, according to Palmer, since his brother is co-owner of the company he can make business deci-

Rental Manager Albert Curtis is based at the company headquarters in Williston, Vt. Prior to joining CRW Corp. in November 2005, he had worked as a warehouse/inventory control manager.

18

(L-R): Roberta Wood; Charles R. Wood Sr., founder; Chris Palmer, president; and Charles R. “Bobby” Wood II, chief operating officer.

sions quickly and has developed critical relationships with the manufacturers to further support CRW Corp.’s customers.

The company’s parts department stocks a large inventory of parts and accessories for its primary lines of equipment, plus it also sells parts for machines manufactured by Koehring, P&H, American, Superpac, Champion, Samsung and Scat Trac.

Steve McKnight arrived at CRW Corp. in May 2001 to take up the post of parts manager.

“Prior to this, I had over 23 years at John Deere construction equipment dealerships, holding various positions including parts manager, general parts manager and inventory control manager of multi-location dealership groups that evolved through different owners over this time

span,” he said. “Prior to that, I had a couple years at a Caterpillar dealer, so I really have over 30 years of uninterrupted heavy equipment parts experience. Time flies!”

“When I started at CRW, Volvo had recently acquired the Samsung line, for which CRW Corp. was a dealer, so the timing was good for me, as I got in on the ground floor as the product line and procedures developed,” McKnight noted.

While he is involved in all functions of the parts department, McKnight’s main focus is on inventory control, for which he constantly monitors new parts requirements as well as reducing obsolete parts.

The company provides a 24/7 emergency service system and fields a professional crew of technicians. Staff experience is enhanced by facto19

ry training, and the company was recently awarded Manitowoc Crane Care Elite Status, based on its investment and performance in supporting National Crane products.

CRW Corp. also has signed the AED Foundation Commitment to Knowledge Pledge, by which it undertakes to provide each employee with the opportunity for at least 40 hours of additional training annually.

CRW Corp. also keeps customers and other interested parties informed through its bi-annual newsletters, The Northeast Crane Report for crane owners and Today’s Dirt for site contractors.

2006: a Monumental Year The company’s 45th anniversary year of 2006 was described by Palmer as monumental for CRW Corp.

“Bobby and I were able to put together an offer to buy the rest of the company shares from our parents Bob and Roberta Wood. As with most family businesses, it was a long and tedious ordeal. It was very hard on all of us, but we found through compromise and constant communication we were able to get it done,” he said.

And how did the previous generation feel about their sons taking over the business? As Vermont born, former Owner and company Treasurer Roberta Wood pointed out, “Knowing the company is in good hands makes it easier to walk away.”

CRW Corp. has shown strong growth, in particular in 2006 when all divisions and departments saw a record year, the New York and southern New England branches in particular. This success, Palmer stated, was due to hard work and planning by the entire staff.

“Our commitment to providing unparalleled customer service after the sale has paid off.”

Founder Bob Sr. has often referred to his customers as “partners and good friends.” In turn, the company prides itself on partnering with customers with a goal of mutual success.

Beyond that, what do the principals see as the secret of their phenomenal success?

Bob Wood Sr. stated the key was “hiring the right people, [those] who will stay with the company for the long haul.”

Chris Palmer agreed. “The one thing we have come to realize in the past 10 years is just how important it is to have the best people. I think in the past the company was defined by my parents. It is now defined by our key employees and management team,” he said. “That is why we try very hard to keep and attract the good ones, and invest in them and our future. We also promote to all of our people that they must do what they say they are going to do. Integrity with our customers, suppliers and business partners is one of our core philosophies that we preach to all of our employees.”

“If you were to ask me who are the key people I would tell you all of them,” Bobby Jr. added. “Chris and I both know it is the employees that make the company what it is. Owners and managers set policies, ground rules and provide leadership. The employees make it happen.”

CRW Corp. is a family-oriented company with an ‘open door’ policy, meaning every employee and customer can bring any issue to the owners at any time, he said. “Our employees are part of the family, knowing their needs, being flexible and helping them is only a small part. Having state-of-the-art facilities, a safe, clean, fun team environment, competitive benefits and being committed to training all helps.”

This policy has resulted in employee dedication through both good and bad times. A large part of CRW Corp.’s staff has been with them for

While he is involved in all functions of the parts department as parts manager, Steve McKnight’s main focus is on inventory control, for which he constantly monitors new parts requirements as well as reducing obsolete parts.

more than l5 years and one, Rod Dewyea, just celebrated 30 years at CRW Corp.

Raymond Curtis, the company’s CFO, is another example of how experienced, dedicated team members have contributed to CRW Corp.’s success. He has 15 years of experience in the construction equipment business, with eight of them at CRW Corp.

“Ray has been instrumental in putting the proper cost controls and financial reporting systems in place and improving our cash flow. He has contributed substantially to our ability to grow the business,” Palmer observes.

Roberta Wood added another observation. Because CRW Corp.’s personnel are treated as part of the extended family and allowances are made for ups and downs in their personal lives, company staff “care about the company and are not just there from nine to five. Having employees totally committed to the success of the company has been the key to our growth and success over the years.”

Future Growth Looking ahead, CRW Corp. feels it will benefit from its primary manufacturers substantially broadening its offerings. For example, Link-Belt now offers a line of all-terrain cranes from 130 to 250 tons, a hydraulic boom crawler crane and a new 90-ton rough-terrain crane. In addition, it will be introducing several key new lifting solutions at the 2008 Con Expo.

Volvo continues to acquire companies and expand its product lines.

Since 2000 CRW Corp. has added loader backhoes, skid steers and 20

In 2004, CRW Corp. moved into its facility in New York State.

reduced tail-swing excavators to its Volvo offerings. Attachment sales continue to grow each year, with CRW Corp. selling multiple attachments with each machine, including variously sized buckets, forks, compactors, thumbs, hydraulic hammers, land clearing attachments, sweepers and snow blowers.

Palmer was forthright about CRW Corp.’s plans. “We want to be the single source provider of construction equipment solutions to our customers and back it up with the best product support in the industry,” he said.

He summed up the road ahead as leading to a future where the company will continue to focus on helping solve customers’ problems.

“We think we have some of the world’s best solutions to do that, whether it be purchasing, leasing, renting, repairing or providing spare parts.”

“With current expansion in energy production, and in particular wind energy generation, plus the required reinvestment in infrastructure, we are very bullish on our ability to continue to grow the business and be the best provider of construction equipment solutions in our market area,” he concluded.

Bobby Jr. echoed the sentiment.

“We will continue to grow the business in all aspects, staying focused on customer needs and new innovative products and services that allow us to be closer to our customers.” CEG

Raymond Curtis, one of CRW Corp.’s senior managers, is the company’s CFO. Curtis has more than 15 years of experience in the construction equipment business, with the past eight at CRW Corp.

21

Barrett T C

24 Hour Emergency Service • • • • •

rucking ompany 16 AUSTIN DRIVE • BURLINGTON 802-863-1311 • 800-243-7258

863-1311

35 to 125 Ton Low Beds Drop Sided Low Beds Beam Trailer Up To 60 Tons Rollback Transport Truck Trailer Dumps & Flowboys for Bulk Transportation

1 800-243-7258 Barrett Trucking Compa Congratulates Woods CR ny W on their 45th Anniversary!

22

Wood’s CRW Success Stories Wood’s CRW, as it celebrates its 45th anniversary, has a lot on which to reflect. Over the years, the company has expanded from one location to three and increased its product offerings and services. However, the one most important aspect of the company that has not changed is its approach to its customers and customer service.

Although Wood’s CRW is a large dealer, it has many of the same qualities as a “Mom and Pop” operation Mom and Pop businesses know their customers by name and what they want. Often they have that elusive item not found in larger shops and if they don’t have it, they will go the extra mile to get it for their customers.

Helping customers with their equipment needs and product support has enabled Wood’s CRW’s customers’ companies to grow. In addition, its treatment of customers has fostered respect and reliability that keeps contractors coming back to Wood’s CRW for their equipment needs.

Among the companies that have looked to Wood’s CRW for equipment and support are Austin Rigging, Classen’s Crane Service, Contractors Crane Service, Durocher Dock and Dredge Inc., Lang Farm Nursery, and Rozell Industries.

Austin Rigging used a new 90-ton (81.6 t) Link-Belt 8690 hydraulic truck terrain crane to raise and lower a basket so that workers could work on the cutting and dismantling process of this 150ft. (45.7 m) water tower located in Central Square, N.Y.

Austin Rigging Austin Rigging, founded by Keith A. White, worked on a rigging project in Central Square, N.Y., which involved the dismantling of a steel water tower that was constructed in 1929. The tower was 150-ft. (45.7 m) tall and took three days to take down.

One of the biggest challenges was the weight of the picks, particularly the sidewalls and legs. Each sidewall weighed 5,000 to 7,000 lbs.

(2,268 to 3,175 kg). The legs of the water tower were 100 ft. (305 m) long and had to be cut into three sections, each weighing 9,000 lbs.

(4,082 kg).

The crane used on this project was a 90-ton (81.6 t) Link-Belt HTT 8690 hydraulic truck terrain crane, which Austin Rigging purchased from Woods CRW. The Link-Belt HTT 8690 crane was initially used to raise and lower a basket so that workers could start the cutting and dismantling process.

The actual part of the structure was cut into four pieces, and then the crane was used to lower each piece of steel as it was detached from the tower structure.

White purchased the Link-Belt HTT 8690 because “It had the best weight charts for any 90-ton crane available. I also was particularly impressed with the all-wheel steer, which cut the crane’s turning radius by one-third, which greatly improved its maneuverability, and allowed me to work in tighter areas than other cranes of the same capacity. In addition, traveling over the road, the crane can carry enough counterweight to bring it to an 82-ton capacity,” he explained.

Austin Rigging had a 35-ton (31.7 t) Terex truck crane with 94 ft.

(28.6 m) of boom and 30 ft. (9 m) of jib, but White needed a new crane that would offer a wider range of lift capacities. He found the Link-Belt

to be easy to operate and liked the way it traveled over the highway because of the air-ride, which makes it very smooth and comfortable.

“With the combination of rear-wheel steer and higher ground clearance, I am able to operate where other cranes would be unable to.

However, one of the biggest pluses was that the crane is manufactured in the United States,” White said.

“I have been impressed with the service that I receive from Wood’s 23

60 Years of Innovation 3 Generations of Satisfaction 1 Guarantee of Reliability

Making quality construction attachments since 1951 Congratulations Woods CRW Corp.

On Your 45th Anniversary

Geith Inc., 22721 Airpark Drive, Petersburg, VA 23803 Toll Free: 800-762-4090 • Tel: 804-733-2183 • Fax: 804-733-3669 E-mail ussales@geith.com Web www.geith.com 24

CRW. I find the technicians to be experienced, well informed and well prepared and parts availability has never been an issue,” he said.

“My sales representative of Wood’s CRW, Greg George, is very helpful and knowledgeable and showed great attention to detail,” said White.

Austin Rigging with its experienced personnel is devoted to assisting companies and contractors with their crane and rigging needs as well as manufacturing maintenance, installation and/or relocation of equipment.

It also is able to provide forklift service up to 30,000 lbs. (13,608 kg) as well as trucking services and certified commercial diving.

Classen’s Crane Service Classen’s Crane Service assisted in the erection of a private wind turbine in Fairfield, Vt. In order to get to the site he needed a machine that could travel over the road quickly to the remote location in Fairfield, Vt., climb a small mountain to get to the site, and have enough boom and capacity to erect the 100-ft. tower. He turned to Wood’s CRW to provide the solution as he has done consistently over the past 15 years.

When Mike Classen needs to make a change in his crane fleet, he does it with Wood’s CRW. Classen has been doing business with Wood’s Classen’s Crane Service assisted in the erection of a private wind turbine in Fairfield, Vt.

25

CRW since he originally started in the crane service business back in 1993. Since then he has purchased 10 machines from Wood’s CRW, including the most recent machine, a new National 9103A 26-ton (23.6 t) boom truck used to erect a small kilowatt wind turbine.

“They have always been my go-to guys. They [Wood’s CRW] know what they are doing when it comes to the crane business and offer the best machines in the business as far as I am concerned,” Classen said.

“More importantly, they back up what they sell you and do what they say they are going to do. I can’t say enough about their service guys.

They are knowledgeable, well trained and dedicated to keeping us up and running.”

Classen’s Crane Service offers crane service from 16- to 90-ton capacity, as well as rigging and trucking throughout New England from their offices in Waterford, Vt. Contractors Crane Service (CCS) Contractors Crane Service (CCS) took on a project the size of a mountain and enlisted the help of a new Link-Belt LS138H5 crane to get the job done. CCS purchased the Link-Belt LS138H5 80-ton (73 t) crawler crane from Wood’s CRW. CCS was contacted by Pizzagalli Construction to provide a crane and operators to execute all steel erection as the two contractors collaborated to build a new lodge and an underground parking structure on Mount Ellen at the Sugarbush Ski Resort in Warren, Vt. The finished project was a 117,000-sq.-ft. (10,869 sq m) structure, which included 2,200 pieces of steel that weighed more than 700 tons (635 t) total.

“At these elevations, hard winds are commonplace and trying to do steel erection at these heights is challenging enough without those winds,” said Project Manager Terry Carpenter of CCS With the help of the Link-Belt, CCS was able to move materials around the site from the center of the building project.

CCS’ cranes were forced to operate under extreme weather conditions. Sometimes temperatures on the job site reached as cold as 20 degrees below zero.

“Yet, even in those temperatures, our Link-Belt starts every time,” said Sam Davis, crane rental manager of CCS. According to Davis, the company has had very good luck in the past using Link-Belt cranes.

“The Link-Belt LS248H-II, which we owned [prior] to the new machine, has operated virtually maintenance-free and has given us no down time during five years of operation,” he said. “We have literally put no money back into that machine.”

“When it came time to purchase the new LS138H5, it was pretty much already determined that we would be buying our next crane from Wood’s CRW,” said Davis. “We have the need for a rough-terrain crane and this new machine matches up perfectly with what we were looking for. Wood’s CRW is a local company, also headquartered in Burlington, Vt., and the service that we received from them has always been exceptional.”

The relationship stretches back at least a generation, when CCS’ founder established a strong business relationship with Wood’s CRW’s founder Bob Wood.

CCS was founded in 1967 is one of the largest crane rental houses in Vermont. The company has a total of 15 cranes available in its fleet, three of which were purchased from Wood’s CRW. Durocher Dock & Dredge Inc. The historic Break Water on Lake Champlain in the city of Burlington, Vt., underwent a $2.3-million rehabilitation. Durocher Dock & Dredge Inc., a worldwide marine contractor, handled the approximately 350 ft. (107 m) of the structure and Wood’s CRW has provided equipment for the job.

With the help of the Link-Belt LS138H5, Contractors Crane Service has been able to move materials around the site from the center of the building project. The Link-Belt LS138H5 is an 80-ton (73 t) crawler crane with 140 ft. (43 m) of main boom and 45 ft. (14 m) of jib.

26

The sections of the Break Water that were repaired included the southern and northern ends of the South Break Water, and the northern end of the North Break Water. These repairs comprised 340 ft. (104 m) of the span, which was 8 percent of the 4,175 ft. (1,273 m) length of the structure.

The proposed repair work included removing limited portions of damaged cribbing, applying a layer of core stone and armoring the core stones with cap stones. The failing sections of the vertical timber crib, exposed along most of the harbor side of the structure, was covered with sloping stones similar to those found on the lake side of the structure.

The equipment used on the job site included two barges, a tugboat, a Link-Belt LS218H-II crane with a Hawco rock grapple leased from Wood’s CRW, and a small Volvo L45 loader.

The loader was used on the barge along with the crane for positioning and pushing some of the larger pieces of stone.

Boyd Heaton, engineer of Durocher, said an advantage that his company found in renting the Link-Belt LS218HII from Wood’s CRW was that they were able to set the crane up in a single day. This netted substantial savings because it would ordinarily take two additional people, one other piece of equipment and two additional days to set a standard crane in position for a job like this.

“We were also happy with the crane because of its extreme ease of operation,” said Heaton. “We had no difficulty finding someone to operate this type of crane. Our younger operators particularly enjoy the joystick operation of the crane. We had a crane that would have done this job located in Florida, but it would have been a long haul to bring it up.

After shopping around, we found the Link-Belt at Wood’s CRW, which saved us the tremendous cost of hauling our own crane up from Florida.”

As the project progressed, 25,000 tons (2,250 t) of stone was placed in the water for the repair work. The Link-Belt was useful in this operation. Because of its compact size, it takes up much less space than other cranes, yet it has tremendous reach and weight capability. Heaton mentioned that the Link-Belt crane operated one-third times faster than the older type of friction cranes that his company used in the past.

Durocher usually used Volvo loaders in its construction applications.

Again, it used a Volvo loader leased from Wood’s CRW because it is “definitely our loader of choice because they are easy to operate and very fuel efficient.” Durocher’s Volvo L120B loader handled the material stockpiled at the loading dock.

Another rental used on the project was the 38,000 lb. (17,236 kg) Volvo EC-150 excavator. It was equipped with a 2,000-lb. (907 kg) Stanley hammer. This set-up was taken to the site and used to break up several concrete towers that needed to be removed from the structure.

Heaton commented that he has had extremely good service from Wood’s CRW and everything the company had rented from them had operated virtually trouble-free.

“On the rare occasion that we need Wood’s CRW, they’re just a phone call away and are able to be on site within minutes,” said Heaton.

Lang Farm Nursery In Essex Junction, Vt., the Links at Lang Farm, an executive golf course, recently unveiled its greens. Throughout the Links, Lang Farm Nursery transplanted large trees, giving the surroundings a mature appearance that belies the course’s youth.

In addition, Lang Farm Nursery did both the excavation and landscaping by using a Volvo L30B 1-yd. (.9 m), articulated loader and a

To ensure quality control, an employee oversees each pick and placement of rock made by the Hawco rock grapple. The grapple is on a Link-Belt LS218H-II crane.

27

Congratulations, Wood’s CRW Corp on your over 45 years in the heavy construction equipment industry

Breaking ground

Reaching new heights

We are proud to be your business partner.

Alter Moneta Corporation 50 Lakefront Boulevard Buffalo, NY 14202 1-800-511-1918 28

Paving the way for the future

Volvo EC55 12,000-lb. (5,443 kg), steel-tracked mini-excavator with a back blade.

Using its EC55, Lang Farm Nursery installed approximately 20,000 ft. (6,096 m) of 10-in. (25.4 cm) main line pipe and also installed another 30,000 ft. (9,144 m) of 4- and 6-in. (10.2 and 15.2 cm) pipe.

Additionally, Lang Farm purchased an adapter plate for its L30B artic loader, which permitted it to accept all Bobcat skid steer attachments, rendering it very flexible because smaller attachments could be employed. Lang also used the EC55 on digging the footings for two bridges in the course. All of the greens, fairways and tees have been set up for irrigation.

At first, Lang Farm opted to rent these machines from Wood’s CRW. However, Jonathan Lang, president of Lang Farm Nursery and coowner of the course, found the EC55 and L30B to be very comfortable, and combined with what Steve Kolvoord, co-owner of the Links at Lang Farms, dubbed “creative financing” by Wood’s CRW, the two ultimately decided to purchase the machines.

“These were the machines that we wanted to buy and the price was right. We got great financing through Volvo finance,” said Kolvoord.

At Wood’s CRW, Lang test drove his two Volvos and compared them with competitors’ machines and concluded that the EC55 and L30B “were vastly superior machines.”

In the first year of operation, Lang Farm put 1,300 hours on its EC55, running it approximately 70 hours a week throughout the summer and experienced no mechanical failures.

“The machines run virtually trouble-free and operate like the day we

Lang Farm Nursery’s Volvo L30B loader goes to work at the Links at Lang Farm.

Rozell Industries has purchased four cranes from Woods CRW in five years.

29

bought them. Also we are now finding that both machines, but particularly the loader, get a lot of cross uses between the nursery operation and the golf course. In the wintertime, we even use the loader to push an 8ft. Protech snow pusher for some of our snow removal operations,” Lang said.

Following the dam repair, Rozell Industries purchased a small fleet of cranes and developed its crane rental division. When the Terex T340 is not in use, Rozell rents it out as part of this division. All of Rozell’s cranes are rented with an operator and most of the rentals occur within a two-hour radius of its Queensbury, N.Y., location.

Satisfied with its first purchase from Wood’s CRW, Rozell Industries bought a second crane, a Terex boom truck, to add to the fleet. Over the years, Rozell has purchased four cranes from Wood’s CRW. The most recent acquisition was a Link-Belt 8660 truck crane “We needed to purchase this 60-ton crane to fill a void in our crane lineup and its size was the next obvious step up for us,” said Brian Rozell, president of Rozell Industries. “We were very fortunate to get the crane [because they] have been in very short supply for the last few years.

“Chris Palmer at Wood’s CRW had this crane scheduled to come out of production from Link-Belt and we grabbed it,” added Rozell.

According to Rozell, business has been booming ever since the LinkBelt joined the fleet.

“We have really been pleased with the rental demand for the machine,” said Rozell. “Once word got out that we had it, it has been kept very busy. About 60 percent of the crane’s use is on our own jobs and it is out on rent nearly all of the rest of the time.

“Because of the professional way we have been treated by Wood’s CRW, we returned to them for the purchase of the new Link-Belt 8690 truck crane,” said Rozell. “[They] have done a great job in working out the tweaks or resolving any technical challenges that have arisen with cranes we have purchased from them.”

“We have had tremendous success with Link-Belt, Terex and Woods CRW Corp.,” said Rozell. “The Terex machines are real workhorses and although the Link-Belt machines are a little more sophisticated, they adapt to far many more applications.”

Rozell Industries Rozell Industries Inc., a diverse company based in Queensbury, N.Y., offers a variety of services, including a growing crane-for-hire service.

With extensive work in building erection and steel fabrication, the company often uses a variety of cranes.

In 2001, the company purchased its first crane, a Terex T340, a 40ton (36.3 t) machine from Wood’s CRW Corp.

The decision to purchase the crane arose when Rozell Industries contracted a job doing extensive repairs on a dam at an area hydro-electric plant. Renting a crane would have cost $30,000, so Rozell purchased the Terex from Wood’s CRW to finish this job and for use on future job sites.

The Terex T340 was a demo unit that Wood’s CRW had in stock that met Rozell’s needs. That purchase marked the beginning of a working relationship between Rozell and Wood’s CRW that has continued ever since.

TAILORED SOLUTIONS. Focused on attaining your strategic goals.

TD Banknorth distinguishes itself by knowing your marketplace, remaining responsive, and making decisions locally. Our commercial lenders build long-lasting relationships, because we take the time to understand your business and work with you to develop a tailored plan to help your company prosper. It’s just another way TD Banknorth goes above and beyond. For comprehensive commercial services, call 800 257-0899.

CONGRATULATIONS Woods CRW On Your 45th Anniversary

One source with many solutions • Asset Based Lending • Commercial Lending • Corporate Lending • Private Banking

• International Services • Cash Management • Leasing

G RIPPIN , D ONLAN & R OCHE , PLC CERTIFIED PUBLIC ACCOUNTANTS CONSULTANTS AND ADVISORS

3 Baldwin Ave. So. Burlington, VT 05403

TDBanknorth.com Bank deposits FDIC insured. l TD Banknorth, N.A. l Equal Housing Lender

802-846-2000 www.gdr-cpa.com

112-3919

30 112-3919 Woods CRW Corps 45th An1 1

8/27/2007 1:08:11 PM

31

Williston,VT 802.658.1700 fax: 802.862.6076

Syracuse, NY 315.676.2008 fax: 315.676.2422

Worcester, MA 508.756.1757 fax: 508.795.1759