New Year, New Company

by Chuck Reed- MEI Marketing Director of Vending Americas and APAC
Chuck Reed- MEI Marketing Director of Vending Americas and APAC
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on January 06, 2014 in MEI Happenings | 0 Comments

Cheers, the start of a new year.  The stock market ended the year with a record high and gas prices are forecasted to be trending down over Q1- two signs that we can be optimistic about 2014.  For the Associates at both MEI and Crane Payment Solutions (CPS), we too are optimistic about the just completed merger of our two companies.

The complexity of the deal took us all by surprise and created a much longer time period to finalize the deal than we ever expected.  During the past year, we remained competitors, not able to discuss any future sales or product plans if and when we became one company.  US and global laws are quite clear on what you can discuss as competitors.

We are anxious to forge ahead now and take the very best of both companies to create products and solutions that deliver the best return on investment for our customers. Our new company has the best talent in the payment industry and with the financial strength of Crane Co. we can execute on the opportunities we identify through working in close collaboration and listening to our customers. Our first joint meeting as one company at year’s end was energizing, as we identified many situations where MEI and CPS have complementary strengths and values that will enable us to create a better combined solution for customers then we could have as competitors.  

We ask for our customer’s patience, as we begin to carefully work through the myriad of decisions that our new company has to make.  We are committed to keeping our customers informed, as we work through our longer term decisions regarding the products and solutions that we will invest in.  We fully expect and hope our customers will share the optimism our Associates have when they begin to learn how the strength of MEI and CPS as one company will help the profitability of their companies.

One of the first items of “official” business we look forward to sharing with the industry is our new company name that blends the two companies together for the future.  This name and logo has already been decided and may have a familiar look and ring to it. But sharing it with everyone for the first time is better suited on a different stage for more ‘formal’ introductions rather than on our blog, so stay tuned.



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