UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549
                                    FORM 10-Q


[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)  OF THE SECURITIES EXCHANGE
ACT 1934

For the quarterly period ended July 1, 2001

                                       or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934.

For the transition period from                     to
                               -------------------    --------------------

Commission File Number:       0-27618
                              -------

     COLUMBUS MCKINNON CORPORATION
--------------------------------------------------------------------------------
     (Exact name of registrant as specified in its charter)


     NEW YORK                                            16-0547600
--------------------------------------------------------------------------------
     (State or other jurisdiction of        (I.R.S. Employer Identification No.)
      incorporation or organization)


     140 JOHN JAMES AUDUBON PARKWAY, AMHERST, NY                14228-1197
--------------------------------------------------------------------------------
     (Address of principal executive offices)                   (Zip code)

     (716) 689-5400
--------------------------------------------------------------------------------
     (Registrant's telephone number, including area code)

--------------------------------------------------------------------------------
     (Former name, former address and former fiscal year, if changed since last
      report.)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. : [X] Yes [ ] No

The number of shares of common stock outstanding as of July 31, 2001 was:
14,895,172 shares.


















<PAGE>


                                 FORM 10-Q INDEX
                          COLUMBUS MCKINNON CORPORATION
                                  JULY 1, 2001


                                                                          PAGE #
                                                                          ------
PART I.  FINANCIAL INFORMATION

Item 1.    Condensed Consolidated Financial Statements (Unaudited)

           Condensed consolidated balance sheets -
              July 1, 2001 and March 31, 2001                                 2

           Condensed consolidated statements of income and retained
              earnings - Three months ended July 1, 2001 and July 2, 2000     3

           Condensed consolidated statements of cash flows -
              Three months ended July 1, 2001 and July 2, 2000                4

           Condensed consolidated statements of comprehensive income -
              Three months ended July 1, 2001 and July 2, 2000                5

           Notes to condensed consolidated financial statements -
              July 1, 2001                                                    6

Item 2.    Management's Discussion and Analysis of Results of Operations
              and Financial Condition                                        13


PART II. OTHER INFORMATION

Item 1.    Legal Proceedings - none.                                         18

Item 2.    Changes in Securities - none.                                     18

Item 3.    Defaults upon Senior Securities - none.                           18

Item 4.    Submission of Matters to a Vote of Security Holders - none.       18

Item 5.    Other Information - none.                                         18

Item 6.    Exhibits and Reports on Form 8-K                                  18



























                                     - 1 -

<PAGE>


PART I.  FINANCIAL INFORMATION

Item 1.    Condensed Consolidated Financial Statements (Unaudited)


<TABLE>
<CAPTION>
                                           COLUMBUS MCKINNON CORPORATION
                                       CONDENSED CONSOLIDATED BALANCE SHEETS
                                                    (UNAUDITED)

                                                                                  JULY 1,           MARCH 31,
                                                                                   2001               2001
                                                                                ----------        -----------
ASSETS:                                                                                (IN THOUSANDS)
Current assets:
<S>                                                                             <C>               <C>
      Cash and cash equivalents                                                 $    1,974        $    14,015
      Trade accounts receivable                                                    133,723            140,234
      Unbilled revenues                                                             41,158             26,813
      Inventories                                                                  109,984            113,218
      Net assets held for sale                                                       4,733              4,270
      Prepaid expenses                                                               5,900              5,655
                                                                                ----------        -----------
Total current assets                                                               297,472            304,205
Property, plant, and equipment, net                                                 83,283             85,272
Goodwill and other intangibles, net                                                317,987            322,196
Marketable securities                                                               23,709             22,326
Deferred taxes on income                                                             5,155              5,696
Other assets                                                                         7,225              7,318
                                                                                ----------        -----------
Total assets                                                                    $  734,831        $   747,013
                                                                                ==========        ===========

LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
      Notes payable to banks                                                    $    3,055        $     3,012
      Trade accounts payable                                                        38,103             44,936
      Excess billings                                                                5,055              1,623
      Accrued liabilities                                                           43,996             48,465
      Restructuring reserve                                                          8,840                  -
      Current portion of long-term debt                                              1,142              3,092
                                                                                 ---------        -----------
Total current liabilities                                                          100,191            101,028
Senior debt, less current portion                                                  198,954            204,326
Subordinated debt                                                                  199,640            199,628
Other non-current liabilities                                                       33,156             34,067
                                                                                ----------        -----------
Total liabilities                                                                  531,941            539,149
                                                                                ----------        -----------
Shareholders' equity
      Common stock                                                                     149                149
      Additional paid-in capital                                                   105,367            105,418
      Retained earnings                                                            119,139            124,806
      ESOP debt guarantee                                                           (7,342)            (7,527)
      Unearned restricted stock                                                       (874)              (955)
      Total accumulated other comprehensive loss                                   (13,549)           (14,027)
                                                                                ----------        -----------
Total shareholders' equity                                                         202,890            207,864
                                                                                ----------        -----------
Total liabilities and shareholders' equity                                      $  734,831        $   747,013
                                                                                ==========        ===========


SEE ACCOMPANYING NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.

</TABLE>


                                     - 2 -


<PAGE>

<TABLE>
<CAPTION>

                                           COLUMBUS MCKINNON CORPORATION
                          CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS
                                                    (UNAUDITED)


                                                                                     THREE MONTHS ENDED
                                                                                     ------------------
                                                                                  JULY 1,            JULY 2,
                                                                                   2001               2000
                                                                                ----------        ------------
                                                                                     (IN THOUSANDS, EXCEPT
                                                                                        PER SHARE DATA)


<S>                                                                             <C>               <C>
Net sales                                                                       $  175,905        $   188,378
Cost of products sold                                                              140,947            141,164
                                                                                ----------        -----------
Gross profit                                                                        34,958             47,214
                                                                                ----------        -----------

Selling expenses                                                                    11,634             12,482
General and administrative expenses                                                  7,367             10,340
Restructuring Charges                                                                8,840                  -
Amortization of intangibles                                                          4,033              4,014
                                                                                ----------        -----------
                                                                                    31,874             26,836
                                                                                ----------        -----------

Income from operations                                                               3,084             20,378
Interest and debt expense                                                            8,576              9,281
Interest income and other (expense) income                                            (112)               941
                                                                                ----------        -----------
(Loss) income before income taxes                                                   (5,604)            12,038
Income tax (benefit) expense                                                          (943)             6,092
                                                                                ----------        -----------
Net (loss) income                                                                   (4,661)             5,946
Retained earnings - beginning of period                                            124,806            113,582
Cash dividends of $0.07 per share                                                   (1,006)              (999)
                                                                                ----------        -----------
Retained earnings - end of period                                               $  119,139        $   118,529
                                                                                ==========        ===========

Earnings per share data, basic and diluted                                      $   (0.32)        $      0.42
                                                                                ==========        ===========


SEE ACCOMPANYING NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.



</TABLE>















                                     - 3 -


<PAGE>

<TABLE>
<CAPTION>

                                           COLUMBUS MCKINNON CORPORATION
                                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                    (UNAUDITED)

                                                                                     THREE MONTHS ENDED
                                                                                     ------------------
                                                                                  JULY 1,            JULY 2,
                                                                                   2001               2000
                                                                                ----------        -----------
                                                                                       (IN THOUSANDS)
OPERATING ACTIVITIES:
<S>                                                                             <C>               <C>
Net (loss) income                                                               $   (4,661)       $     5,946
Adjustments to reconcile net income to net cash
   provided by operating activities:
     Depreciation and amortization                                                   7,247              7,140
     Deferred income taxes                                                             541                (96)
     Other                                                                             403                334
     Changes in operating assets and liabilities:
           Trade accounts receivable                                                 6,453             (9,598)
           Unbilled revenues and excess billings                                   (10,913)             4,774
           Inventories                                                               3,186             (2,391)
           Prepaid expenses                                                           (245)              (238)
           Other assets                                                                135               (155)
           Trade accounts payable                                                   (6,731)            (7,011)
           Accrued and non-current liabilities                                       3,334             (2,547)
                                                                                ----------        -----------
Net cash used in operating activities                                               (1,251)            (3,842)
                                                                                ----------        -----------

INVESTING ACTIVITIES:
Purchase of marketable securities, net                                                (787)            (1,065)
Capital expenditures                                                                (1,309)            (1,929)
Net assets held for sale                                                              (463)              (258)
                                                                                ----------        -----------
Net cash used in investing activities                                               (2,559)            (3,252)
                                                                                ----------        -----------

FINANCING ACTIVITIES:
Net (payments) borrowings under revolving line-of-credit agreements                 (6,577)             4,289
Repayment of debt                                                                     (570)            (1,201)
Dividends paid                                                                      (1,006)              (999)
Reduction of ESOP debt guarantee                                                       185                209
Other                                                                                 (474)                 -
                                                                                ----------        -----------
Net cash (used in) provided by financing activities                                 (8,442)             2,298
Effect of exchange rate changes on cash                                                 11                276
                                                                                ----------        -----------
Net decrease in cash and cash equivalents                                          (12,241)            (4,520)
Cash and cash equivalents at beginning of period                                    14,215              7,582
                                                                                ----------        -----------
Cash and cash equivalents at end of period                                      $    1,974        $     3,062
                                                                                ==========        ===========

SEE ACCOMPANYING NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.



</TABLE>








                                     - 4 -


<PAGE>

<TABLE>
<CAPTION>

                                           COLUMBUS MCKINNON CORPORATION
                             CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                                                    (UNAUDITED)

                                                                                     THREE MONTHS ENDED
                                                                                     ------------------
                                                                                  JULY 1,            JULY 2,
                                                                                   2001               2000
                                                                                ----------        -----------
                                                                                         (IN THOUSANDS)

<S>                                                                             <C>               <C>
Net (loss) income                                                               $   (4,661)       $     5,946
                                                                                ----------        -----------
Other comprehensive income (loss), net of tax:
  Foreign currency translation adjustments                                            (241)               291
  Unrealized gain on derivatives qualifying as hedges                                  123                  -
  Unrealized gain (loss) on investments
    Unrealized holding gain arising during the period                                  199                147
    Less: reclassification adjustment for (gain)
       loss included in net income                                                     397               (575)
                                                                                ----------        -----------
                                                                                       596               (428)
                                                                                ----------        -----------
Total other comprehensive income (loss)                                                478               (137)
                                                                                ----------        -----------
Comprehensive (loss) income                                                     $   (4,183)       $     5,809
                                                                                ==========        ===========


SEE ACCOMPANYING NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.

</TABLE>


































                                     - 5 -


<PAGE>



                          COLUMBUS MCKINNON CORPORATION
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                                  JULY 1, 2001


1.   The accompanying unaudited condensed consolidated financial statements have
     been prepared in accordance with generally accepted  accounting  principles
     for  interim  financial  information.  In the  opinion of  management,  all
     adjustments  (consisting of normal recurring accruals) considered necessary
     for a fair presentation of the financial position of the Company at July 1,
     2001,  and the results of its  operations  and its cash flows for the three
     month  periods  ended  July 1, 2001 and July 2, 2000,  have been  included.
     Results for the period ended July 1, 2001 are not necessarily indicative of
     the results  that may be expected  for the year ended March 31,  2002.  For
     further  information,  refer to the consolidated  financial  statements and
     footnotes  thereto  included in the Columbus  McKinnon  Corporation  annual
     report on Form 10-K for the year ended March 31, 2001.


     The  Company  is  a  broad-line  designer,  manufacturer  and  supplier  of
     sophisticated  material  handling  products that are widely  distributed to
     industrial,  automotive, and consumer markets globally; integrated material
     handling solutions for industrial markets; and integrated material handling
     solutions  for the  automotive  markets.  The Company's  material  handling
     products are sold,  domestically and internationally,  principally to third
     party distributors through diverse distribution  channels,  and to a lesser
     extent  directly  to  manufacturers  and  other  end-users.  The  Company's
     integrated  material  handling  solutions  industrial  businesses also deal
     primarily  with end  users and sales  are  concentrated,  domestically  and
     internationally    (primarily    Europe),   in   the   consumer   products,
     manufacturing,   warehousing   and,   to  a  lesser   extent,   the  steel,
     construction,  automotive  and  other  industrial  markets.  The  Company's
     integrated material handling solutions  automotive business primarily deals
     with end users and sales are concentrated  domestically and internationally
     (primarily North America), in the automotive industry.



2.   Inventories consisted of the following:

<TABLE>
<CAPTION>

                                                                                  JULY 1,           MARCH 31,
                                                                                   2001               2001
                                                                                ----------        -----------
                                                                                       (IN THOUSANDS)
     At cost - FIFO basis:
        <S>                                                                     <C>               <C>
        Raw materials..................................................         $   59,970        $    60,908
        Work-in-process................................................             18,291             17,110
        Finished goods.................................................             38,692             41,850
                                                                                ----------        -----------
                                                                                   116,953            119,868
     LIFO cost less than FIFO cost.....................................             (6,969)            (6,650)
                                                                                ----------        -----------
     Net inventories   ................................................         $  109,984        $   113,218
                                                                                ==========        ===========
</TABLE>


     An actual  valuation of inventory under the LIFO method can be made only at
     the end of each year based on the inventory  levels and costs at that time.
     Accordingly,  interim  LIFO  calculations  must  necessarily  be  based  on
     management's  estimates of expected  year-end  inventory  levels and costs.
     Because  these are  subject to many  forces  beyond  management's  control,
     interim results are subject to the final year-end LIFO inventory valuation.



                                     - 6 -

<PAGE>


3.   Property,  plant,  and equipment is net of $68,827,000  and  $65,613,000 of
     accumulated depreciation at July 1, 2001 and March 31, 2001, respectively.

4.   Goodwill and other  intangibles  is net of $66,272,000  and  $62,239,000 of
     accumulated amortization at July 1, 2001 and March 31, 2001, respectively.

5.   General and Product  Liability - The accrued general and product  liability
     costs,  which  are  included  in  other  non-current  liabilities,  are the
     actuarial  present  value  of  estimated   expenditures  based  on  amounts
     determined  from loss reports and individual  cases filed with the Company,
     and an amount,  based on experience,  for losses incurred but not reported.
     The  accrual  in these  condensed  consolidated  financial  statements  was
     determined  by  applying  a  discount   factor  based  on  interest   rates
     customarily used in the insurance industry.

6.   The carrying amount of the Company's senior debt  instruments  approximates
     the fair value.  The Company's  subordinated  debt has an approximate  fair
     value  of  $180,000,000,   which  is  less  than  its  carrying  amount  of
     $199,640,000.

7.   The  following  table  sets  forth the  computation  of basic  and  diluted
     earnings per share:

<TABLE>
<CAPTION>

                                                                                      THREE MONTHS ENDED
                                                                                      ------------------
                                                                                  JULY 1,            JULY 2,
                                                                                   2001               2000
                                                                                ----------        -----------
                                                                                       (IN THOUSANDS)
     Numerator for basic and diluted earnings per share:
     <S>                                                                        <C>               <C>
        Net income.....................................................         $   (4,661)       $     5,946
                                                                                ===========       ===========

     Denominators:
        Weighted-average common stock outstanding -
          denominator for basic EPS....................................             14,391             14,287
        Effect of dilutive employee stock options......................                  -                  -
                                                                                ----------        -----------

        Adjusted weighted-average common stock outstanding
          and assumed conversions - denominator for diluted EPS........             14,391             14,287
                                                                                ==========        ===========

</TABLE>


8.   Income tax (benefit) expense for the three-month periods ended July 1, 2001
     and July 2, 2000 differs from the customary relationship between income tax
     (benefit)   expense  and  (loss)   income   before   income  taxes  due  to
     nondeductible amortization of goodwill of $3,076,000 during both periods.

9.   On April 1, 2001,  the Company  adopted  Statement of Financial  Accounting
     Standards  (SFAS) No.  133,  "Accounting  for  Derivative  Instruments  and
     Hedging  Activities,"  as amended,  which  requires  companies to carry all
     derivatives on the balance sheet at fair value. The Company  determines the
     fair  value of  derivatives  by  reference  to quoted  market  prices.  The
     accounting for changes in the fair value of a derivative instrument depends
     on  whether  it has been  designated  and  qualifies  as part of a  hedging
     relationship  and, if so, the reason for holding it. The  Company's  use of
     derivative  instruments is limited to cash flow hedges,  as defined in SFAS
     No. 133, of certain interest rate risks.


                                     - 7 -


<PAGE>


     In order to provide interest rate risk protection, the Company entered into
     an interest rate swap agreement in June of 2001 to effectively  convert $40
     million of variable-rate  debt to fixed-rate debt. The $40 million interest
     rate swap agreement matures in June 2003. The cash flow hedge is considered
     effective  and the gain or loss on the change in fair value is  reported in
     other comprehensive income, net of tax.

     The June 2001 interest rate swap is the only derivative  instrument held by
     the Company,  as such there is no impact on the adoption of SFAS No. 133 at
     April 1, 2001. The net impact of the derivative  instrument was an increase
     to other comprehensive  income of $123,000 at June 30, 2001. The fair value
     of the derivative at July 1, 2001 was a $205,000 asset.


10.  As a result of the way the Company  manages the  business,  its  reportable
     segments are strategic  business  units that offer  products with different
     characteristics.   The  most  defining  characteristic  is  the  extent  of
     customized  engineering  required on a per-order  basis.  In addition,  the
     segments  serve  different  customer  bases  through  differing  methods of
     distribution.  The Company has three reportable segments: material handling
     products,  material handling solutions - industrial,  and material handling
     solutions - automotive.  The Company's  material  handling products segment
     sells hoists,  industrial cranes,  chain,  attachments,  and other material
     handling products  principally to third party distributors  through diverse
     distribution channels. The material handling solutions - industrial segment
     sells engineered material handling systems such as conveyors, manipulators,
     and  lift  tables   primarily  to  end-users  in  the  consumer   products,
     manufacturing,   warehousing,   and,  to  a  lesser   extent,   the  steel,
     construction,  automotive,  and  other  industrial  markets.  The  material
     handling solutions - automotive segment sells engineered  material handling
     systems,  mainly  conveyors,  primarily  to  end-users  in  the  automotive
     industry.  Intersegment  sales are not significant.  The Company  evaluates
     performance  based on operating  income of the  respective  business  units
     prior to the effects of amortization.


     Segment  information  as of and for the three months ended July 1, 2001 and
     July 2, 2000, is as follows:


<TABLE>
<CAPTION>

                                                                    THREE MONTHS ENDED JULY 1, 2001
                                                                    -------------------------------
                                                                      SOLUTIONS -      SOLUTIONS -
                                                      PRODUCTS        INDUSTRIAL       AUTOMOTIVE           TOTAL
                                                     -----------      -----------      -----------       -----------
                                                                             (IN THOUSANDS)
     <S>                                             <C>              <C>              <C>               <C>
     Sales to external customers.................    $   109,618      $    13,622      $    52,665       $   175,905
     Operating income before amortization
        and restructuring charges................         16,478               42             (563)           15,957
     Depreciation and amortization...............          5,127              744            1,376             7,247
     Total assets................................        463,995           64,072          206,764           734,831
     Capital expenditures........................            879              313              117             1,309













                                     - 8 -


<PAGE>




                                                                    THREE MONTHS ENDED JULY 2, 2000
                                                                    -------------------------------
                                                                      SOLUTIONS -      SOLUTIONS -
                                                      PRODUCTS        INDUSTRIAL       AUTOMOTIVE           TOTAL
                                                     -----------      -----------      -----------       -----------
                                                                             (IN THOUSANDS)
     Sales to external customers.................    $   125,196      $    17,513      $    45,669       $   188,378
     Operating income before amortization
        and restructuring charges................         19,618            1,841            2,933            24,392
     Depreciation and amortization...............          5,012              729            1,399             7,140
     Total assets................................        493,176           69,943          197,161           760,280
     Capital expenditures........................          1,915               16               (2)            1,929

</TABLE>



     The following schedule provides a reconciliation of operating income before
     amortization with (loss) income before income taxes:



<TABLE>
<CAPTION>

                                                                                      THREE MONTHS ENDED
                                                                                      ------------------
                                                                                JULY 1,                JULY 1,
                                                                                  2000                  2000
                                                                                  ----                  ----
                                                                                        (IN THOUSANDS)
        <S>                                                                   <C>                    <C>
        Operating income before amortization............................      $    15,957            $    24,392
        Restructuring charges...........................................           (8,840)                     -
        Amortization of intangibles.....................................           (4,033)                (4,014)
        Interest and debt expense.......................................           (8,576)                (9,281)
        Interest income and other (expense) income......................             (112)                   941
                                                                              ------------           -----------
        (Loss) income before income taxes...............................      $    (5,604)           $    12,038
                                                                              ============           ===========
</TABLE>


























                                     - 9 -


<PAGE>


11.  The summary  financial  information  of the parent,  domestic  subsidiaries
     (guarantors)  and foreign  subsidiaries  (nonguarantors  of the 8.5% senior
     subordinated notes) follows:

<TABLE>
<CAPTION>

                                                                         Domestic       Foreign         Elimina-       Consoli-
     (In thousands)                                        Parent      Subsidiaries   Subsidiaries        tions          dated
                                                          -----------------------------------------------------------------------
     AS OF JULY 1, 2001
     Current assets:
     <S>                                                  <C>            <C>            <C>            <C>             <C>
      Cash and cash equivalents                           $   2,717      $  (4,096)     $   3,353      $        -      $    1,974
      Trade accounts receivable                              60,111         53,550         20,062               -         133,723
      Unbilled revenues                                           -         41,158              -               -          41,158
      Inventories                                            44,719         37,250         28,989            (974)        109,984
      Other current assets                                    5,471          1,836          3,326               -          10,633
                                                          -----------------------------------------------------------------------
       Total current assets                                 113,018        129,698         55,730            (974)        297,472
     Net property, plant, and equipment                      33,845         31,765         17,673               -          83,283
     Goodwill and other intangibles, net                     38,600        233,698         45,689               -         317,987
     Intercompany                                           167,439       (332,476)       (61,985)        227,022               -
     Other assets                                           227,772        161,325         (2,129)       (350,879)         36,089
                                                          -----------------------------------------------------------------------
       Total assets                                       $ 580,674      $ 224,010      $  54,978      $ (124,831)     $  734,831
                                                          =======================================================================


     Current liabilities                                  $  33,400      $  50,663      $  19,168      $   (3,040)     $  100,191
     Long-term debt, less current portion                   394,941              1          3,652               -         398,594
     Other non-current liabilities                           15,484         14,973          2,699               -          33,156
                                                          -----------------------------------------------------------------------
       Total liabilities                                    443,825         65,637         25,519          (3,040)        531,941

     Shareholders' equity                                   136,849        158,373         29,459        (121,791)        202,890
                                                          -----------------------------------------------------------------------
       Total liabilities and shareholders' equity         $ 580,674      $ 224,010      $  54,978      $ (124,831)     $  734,831
                                                          =======================================================================


     FOR THE THREE MONTHS ENDED JULY 1, 2001
     Net sales                                            $  57,177      $  96,569      $  26,816      $   (4,657)     $  175,905
     Cost of products sold                                   41,149         84,340         20,115          (4,657)        140,947
                                                          -----------------------------------------------------------------------
     Gross profit                                            16,028         12,229          6,701               -          34,958
                                                          -----------------------------------------------------------------------
     Selling, general and administrative expenses             8,195          6,012          4,794               -          19,001
     Restructuring charges                                    8,840              -              -               -           8,840
     Amortization of intangibles                                547          2,886            600               -           4,033
                                                          -----------------------------------------------------------------------
                                                             17,582          8,898          5,394               -          31,874
                                                          -----------------------------------------------------------------------
     (Loss) income from operations                           (1,554)         3,331          1,307               -           3,084
     Interest and debt expense                                8,431              -            145               -           8,576
     Interest income and other (expense) income                (219)            56             51               -            (112)
                                                          -----------------------------------------------------------------------
     (Loss) income before income taxes                      (10,204)         3,387          1,213               -          (5,604)
     Income tax (benefit) expense                            (3,888)         2,459            486               -            (943)
                                                          -----------------------------------------------------------------------
     Net (loss) income                                    $  (6,316)     $     928      $     727      $        -      $   (4,661)
                                                          =======================================================================







                                                                - 10 -


<PAGE>



                                                                         Domestic       Foreign        Elimina-        Consoli-
      (In thousands)                                        Parent     Subsidiaries   Subsidiaries       tions           dated
                                                          -----------------------------------------------------------------------
     FOR THE THREE MONTHS ENDED JULY 1, 2001
     OPERATING ACTIVITIES:
     Net cash provided by (used in) operating
     activities                                           $   1,492      $  (1,597)     $  (1,146)     $        -      $   (1,251)
                                                          -----------------------------------------------------------------------

     INVESTING ACTIVITIES:
     Purchase of marketable securities, net                    (787)             -              -               -            (787)
     Capital expenditures                                      (741)          (170)          (398)              -          (1,309)
     Other                                                        -           (463)             -               -            (463)
                                                          -----------------------------------------------------------------------
     Net cash used in investing activities                   (1,528)          (633)          (398)              -          (2,559)
                                                          -----------------------------------------------------------------------

     FINANCING ACTIVITIES:
     Net borrowings under revolving line-of-credit
       agreements                                            (6,700)             -            123               -          (6,577)
     Repayment of debt                                         (451)            (1)          (118)              -            (570)
     Dividends paid                                          (1,006)             -              -               -          (1,006)
     Other                                                     (289)             -              -               -            (289)
                                                          -----------------------------------------------------------------------
     Net cash  (used in) provided by financing               (8,446)            (1)             5               -          (8,442)
     activities
     Effect of exchange rate changes on cash                    (18)             -             29               -              11
                                                          -----------------------------------------------------------------------
     Net change in cash and cash equivalents                 (8,500)        (2,231)        (1,510)              -         (12,241)
     Cash and cash equivalents at beginning of period        11,217         (1,865)         4,863               -          14,215
                                                          -----------------------------------------------------------------------
     Cash and cash equivalents at end of period           $   2,717      $  (4,096)     $   3,353      $        -      $    1,974
                                                          =======================================================================




     AS OF JULY 2,  2000
     Current assets:
     Cash and cash equivalents                            $  (1,261)     $     299      $   4,024      $        -      $    3,062
     Trade accounts receivable                               61,550         65,485         25,964               -         152,999
     Unbilled revenues                                            -         21,567              -               -          21,567
     Inventories                                             48,203         38,221         25,137            (879)        110,682
     Other current assets                                     4,025          7,923          4,001               -          15,949
                                                          -----------------------------------------------------------------------
       Total current assets                                 112,517        133,495         59,126            (879)        304,259
     Net property, plant, and equipment                      35,262         31,873         18,965               -          86,100
     Goodwill and other intangibles, net                     40,569        245,230         49,526               -         335,325
     Intercompany                                           195,212       (358,845)       (64,463)        228,096               -
     Other assets                                           225,603        161,656         (1,984)       (350,679)         34,596
                                                          -----------------------------------------------------------------------
       Total assets                                       $ 609,163      $ 213,409      $  61,170      $ (123,462)     $  760,280
                                                          =======================================================================



     Current liabilities                                  $  32,860      $  48,036      $  20,298      $   (1,928)     $   99,266
     Long-term debt, less current portion                   409,755             10          5,877               -         415,642
     Other non-current liabilities                           15,190         18,549          2,797               -          36,536
                                                          -----------------------------------------------------------------------
       Total liabilities                                    457,805         66,595         28,972          (1,928)        551,444

     Shareholders' equity                                   151,358        146,814         32,198        (121,534)        208,836
                                                          -----------------------------------------------------------------------
       Total liabilities and shareholders' equity         $ 609,163      $ 213,409      $  61,170      $ (123,462)     $  760,280
                                                          =======================================================================


                                                                - 11 -


<PAGE>

                                                                         Domestic       Foreign        Elimina-        Consoli-
     (In thousands)                                        Parent      Subsidiaries   Subsidiaries       tions           dated
                                                          -----------------------------------------------------------------------
     FOR THE THREE MONTHS ENDED JULY 2, 2000
     Net sales                                            $  66,979      $  97,534      $  29,742      $   (5,877)     $  188,378
     Cost of products sold                                   45,737         79,350         21,958          (5,881)        141,164
                                                          -----------------------------------------------------------------------
     Gross profit                                            21,242         18,184          7,784               4          47,214
                                                          -----------------------------------------------------------------------
     Selling, general and administrative expenses             9,747          8,098          4,977               -          22,822
     Amortization of intangibles                                508          2,894            612               -           4,014
                                                          -----------------------------------------------------------------------
                                                             10,255         10,992          5,589               -          26,836
                                                          -----------------------------------------------------------------------
     Income from operations                                  10,987          7,192          2,195               4          20,378
     Interest and debt expense                                9,130              -            151               -           9,281
     Interest and other income                                  773             60            108               -             941
                                                          -----------------------------------------------------------------------
     Income before income taxes                               2,630          7,252          2,152               4          12,038
     Income tax expense                                       1,233          3,852          1,006               1           6,092
                                                          -----------------------------------------------------------------------
     Net income                                           $   1,397      $   3,400      $   1,146      $        3      $    5,946
                                                          =======================================================================


     FOR THE THREE MONTHS ENDED JULY 2, 2000
     OPERATING ACTIVITIES:
     Net cash (used in) provided by  operating
     activities                                           $  (7,060)     $   3,061      $     157      $        -      $   (3,842)
                                                          -----------------------------------------------------------------------

     INVESTING ACTIVITIES:
     Purchase of marketable securities, net                  (1,065)             -              -               -          (1,065)
     Capital expenditures                                      (865)          (794)          (270)              -          (1,929)
     Other                                                        -           (258)             -               -            (258)
                                                          -----------------------------------------------------------------------
     Net cash used in investing activities                   (1,930)        (1,052)          (270)              -          (3,252)
                                                          -----------------------------------------------------------------------

     FINANCING ACTIVITIES:
     Net borrowings under revolving
       line-of-credit agreements                              3,900              -            389               -           4,289
     Repayment of debt                                       (1,135)            (9)           (57)              -          (1,201)
     Dividends paid                                            (999)             -              -               -            (999)
     Other                                                      209              -              -               -             209
                                                          -----------------------------------------------------------------------
     Net cash provided by (used in) financing                 1,975             (9)           332               -           2,298
     activities
     Effect of exchange rate changes on cash                      -              -            276               -             276
                                                          -----------------------------------------------------------------------
     Net change in cash and cash equivalents                 (7,015)         2,000            495               -          (4,520)
     Cash and cash equivalents at beginning of period         5,754         (1,701)         3,529               -           7,582

                                                          -----------------------------------------------------------------------
     Cash and cash equivalents at end of period           $  (1,261)     $     299      $   4,024      $        -      $    3,062
                                                          =======================================================================

</TABLE>


12.  The  Financial  Accounting  Standards  Board  (FASB)  issued  SFAS No. 141,
     "Business Combinations" and No. 142, "Goodwill and Other Intangible Assets"
     in June of 2001.  SFAS No. 141 requires  the use of the purchase  method of
     accounting  for all business  combinations  initiated  after June 30, 2001.
     SFAS No. 142 requires that goodwill and indefinite lived intangible  assets
     no longer be amortized,  but tested for impairment.  This statement,  which
     will be effective for the Company's  fiscal year  beginning  after April 1,
     2002,  must be adopted at the  beginning of the fiscal year. At the present
     time, the Company has not determined the impact of adoption.


                                     - 12 -

<PAGE>

Item 2.              MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  RESULTS OF OPERATIONS AND FINANCIAL CONDITION


The  Company  is  a   broad-line   designer,   manufacturer,   and  supplier  of
sophisticated  material  handling  products that are  distributed to industrial,
automotive and consumer markets globally; integrated material handling solutions
for industrial markets worldwide; and integrated material handling solutions for
the  automotive  markets.  The Company's  material  handling  products are sold,
domestically  and  internationally,  principally  to  third  party  distributors
through diverse  distribution  channels.  Distribution  channels include general
distributors,   specialty  distributors,  crane  end  users,  service-after-sale
distributors,  original equipment manufacturers ("OEMs"),  government,  consumer
and  international.   The  general  distributors  are  comprised  of  industrial
distributors,  rigging shops and crane builders.  Specialty distributors include
catalog  houses,  material  handling  specialists  and  entertainment  equipment
riggers.  The  service-after-sale  network  includes  repair parts  distribution
centers, chain service centers, and hoist repair centers.  Consumer distribution
channels  include  mass  merchandisers,   hardware  distributors,  trucking  and
transportation distributors,  farm hardware distributors and rental outlets. The
Company's   integrated  material  handling  solutions  segments  primarily  deal
directly with  end-users.  Material  handling  solutions - industrial  sales are
concentrated,  domestically and internationally  (primarily Europe), in consumer
products  manufacturing,  warehousing  and,  to  a  lesser  extent,  the  steel,
construction,  automotive,  and  other  industrial  markets.  Material  handling
solutions - automotive sales are concentrated,  domestically and internationally
(primarily North America) in the automotive industry.


RESULTS OF OPERATIONS

THREE MONTHS ENDED JULY 1, 2001 AND JULY 2, 2000
Net sales in the fiscal 2002  quarter  ended July 1, 2001 were  $175,905,000,  a
decrease of $12,473,000 or 6.6% from the fiscal 2001 quarter ended July 2, 2000.
Sales  in the  Products  segment  were  down  roughly  12.4%  and  sales  in the
Solutions-Industrial  segment  decreased  by 22.2% as a  result  of the  ongoing
softness    in    industrial    markets,    particularly    domestically.    The
Solutions-Automotive  segment  had a sales  increase  of 15.3%  as a  result  of
improving contract bookings.  Sales in the individual  segments were as follows,
in thousands of dollars and with percentage changes for each group:


<TABLE>
<CAPTION>
                                  THREE MONTHS ENDED
                                  ------------------
                                JULY 1,         JULY 2,              CHANGE
                                                                     ------
                                 2001            2000          AMOUNT          %
                                 ----            ----          ------       -------
                                       (IN THOUSANDS, EXCEPT PERCENTAGES)
<S>                          <C>             <C>            <C>             <C>
Products                     $   109,618     $   125,196    $   (15,578)      (12.4)
Solutions-Industrial              13,622          17,513         (3,891)      (22.2)
Solutions-Automotive              52,665          45,669          6,996        15.3
                             -----------     -----------    -----------     -------
Consolidated net sales       $   175,905     $   188,378    $   (12,473)       (6.6)
                             ===========     ===========    ===========     =======
</TABLE>


                                     - 13 -

<PAGE>


The Company's  gross profit margins were  approximately  19.9% and 25.1% for the
fiscal 2002 and 2001 quarters,  respectively. The decline in gross profit margin
is a  combination  of decreased  volume and a shifting in sales mix to the lower
margin  solutions  segments.  The gross profit  margin in the  Products  segment
remained stable,  considering the effects of a reclassification to cost of goods
sold from general and  administrative  expense,  despite lower sales volume. The
Solutions-Industrial  segment experienced decreased gross profit margins for the
fiscal 2002 quarter as a result of decreased volume. Gross profit margins in the
Solutions-Automotive  segment were lower for the first  quarter of 2002 compared
to the same period in the prior year due to continuing competitive pressures and
installation/staffing  issues  with  respect  to  a  series  of  contracts  at a
particular site.

Selling  expenses were  $11,634,000  and $12,482,000 in the fiscal 2002 and 2001
quarters,  respectively.  As a percentage  of  consolidated  net sales,  selling
expenses were 6.6% for both the fiscal 2002 and 2001 quarters.  The reduction is
due to cost control efforts and decreased volume in the Products segment.

General and  administrative  expenses were  $7,367,000,  and  $10,340,000 in the
fiscal 2002 and 2001 quarters, respectively. As a percentage of consolidated net
sales, general and administrative expenses were 4.2% and 5.5% in the fiscal 2002
and  2001   quarters,   respectively.   The   decrease   is  the   result  of  a
reclassification  to cost of goods sold from general and administrative  expense
and lower product  liability expense recorded by the Company's captive insurance
company. This decreased product liability expense is the result of and offset by
the lower  investment  income shown on the interest  income and other  (expense)
income line.

Amortization of intangibles was $4,033,000 and $4,014,000 in the fiscal 2002 and
2001 quarters, respectively.

In conjunction with the continuation of its strategic  integration  process, the
Company incurred restructuring charges of $8,840,000 as a result of its decision
to close the Forrest  City,  Arkansas  plant during the first  quarter of fiscal
2002. The charges consist mainly of lease  termination  and employee  separation
costs.

Income  from  operations  decreased  $17,294,000  or  84.9% in the  fiscal  2002
quarter,  compared  to the fiscal  2001  quarter.  This is based on income  from
operations of $3,084,000 and $20,378,000 or 1.8% and 10.8% of  consolidated  net
sales for the fiscal 2002 and 2001 quarters, respectively.

Interest and debt expense was $8,576,000,  and $9,281,000 in the fiscal 2002 and
2001  quarters,  respectively.  The  fiscal  2002  decrease  is the  result of a
combination  of decreasing  debt levels and interest  rates.  As a percentage of
consolidated  net sales,  interest and debt expense was 4.9% for both the fiscal
2002 and 2001 quarters.

Interest  income and other  (expense)  income was ($112,000) and $941,000 in the
fiscal 2002 and 2001  quarters,  respectively.  The decrease in the current year
fiscal  quarter  is the  result of lower  investment  earnings  on assets in the
Company's captive insurance company.

Income taxes as a percentage  of (loss)  income before income taxes were (16.8)%
and 50.6% in the fiscal 2002 and 2001 quarters,  respectively.  The  percentages
differ from the U.S.  statutory rate as a result of the effect of  nondeductible
amortization of goodwill resulting from acquisitions.


                                     - 14 -


<PAGE>


LIQUIDITY AND CAPITAL RESOURCES

The Revolving  Credit Facility  provides  availability  up to $225 million,  due
March 31, 2003,  against which $195.3  million was  outstanding at July 1, 2001.
Interest  is payable at varying  Eurodollar  rates  based on LIBOR plus a spread
determined by the Company's leverage ratio amounting to 250 basis points at July
31, 2001. The Revolving Credit Facility is secured by all equipment,  inventory,
receivables,  subsidiary  stock  (limited to 65% for foreign  subsidiaries)  and
intellectual property.

The  senior  subordinated  8 1/2% Notes  issued on March 31,  1998  amounted  to
$199,468,000,  net of original  issue discount of $532,000 and are due March 31,
2008.  Interest is payable  semi-annually  based on an effective  rate of 8.45%,
considering  $1,902,000  of  proceeds  from  rate  hedging  in  advance  of  the
placement.   Provisions  of  the  8  1/2%  Notes  include,  without  limitation,
restrictions  of liens,  indebtedness,  asset  sales,  and  dividends  and other
restricted payments.  Prior to April 1, 2003, the 8 1/2% Notes are redeemable at
the option of the  Company,  in whole or in part,  at the  Make-Whole  Price (as
defined  in the 8 1/2% Notes  agreement).  On or after  April 1, 2003,  they are
redeemable at prices  declining  annually to 100% on and after April 1, 2006. In
the event of a Change of Control (as defined in the  indenture  for such notes),
each holder of the 8 1/2% Notes may require the Company to  repurchase  all or a
portion of such  holder's 8 1/2% Notes at a purchase  price equal to 101% of the
principal  amount thereof.  The 8 1/2% Notes are guaranteed by certain  domestic
subsidiaries and are not subject to any sinking fund requirements.

On  April 1,  2001,  the  Company  adopted  Statement  of  Financial  Accounting
Standards  (SFAS) No. 133,  "Accounting  for Derivative  Instruments and Hedging
Activities,"  as amended,  which requires  companies to carry all derivatives on
the balance sheet at fair value. The Company's use of derivative  instruments is
limited to cash flow  hedges,  as defined in SFAS No. 133,  of certain  interest
rate  risks.  In order to provide  interest  rate risk  protection  the  Company
entered into an interest  rate swap  agreement in June of 2001,  to  effectively
convert $40 million of  variable-rate  debt to fixed-rate  debt. The $40 million
interest rate swap agreement matures in June 2003.

The Company believes that its cash on hand, cash flows,  and borrowing  capacity
under its  revolving  credit  facility  will be  sufficient  to fund its ongoing
operations,  budgeted capital  expenditures,  and business  acquisitions for the
next twelve months.

Net cash used by operating  activities was $1,251,000 for the three months ended
July 1, 2001 compared to $3,842,000 for the three months ended July 2, 2000. The
$2,591,000  difference  is due to the  current  loss from  operations  offset by
changes in net working capital components.

Net cash used in  investing  activities  decreased to  $2,559,000  for the three
months  ended July 1, 2001 from  $3,252,000  for the three  months ended July 2,
2000.

Net cash used in provided by financing  activities  was $8,442,000 for the three
months ended July 1, 2001 compared to net cash provided by financing  activities
of $2,298,000 for the three months ended July 2, 2000. The $10,740,000  decrease
is primarily the result of excess cash from year-end used to pay down debt.





                                     - 15 -


<PAGE>


CAPITAL EXPENDITURES

In addition to keeping its current equipment and plants properly maintained, the
Company is committed to replacing, enhancing, and upgrading its property, plant,
and  equipment  to reduce  production  costs,  increase  flexibility  to respond
effectively to market fluctuations and changes, meet environmental requirements,
enhance safety, and promote  ergonomically  correct work stations.  Consolidated
capital  expenditures  for the three  months ended July 1, 2001 and July 2, 2000
were $1,309,000 and $1,929,000, respectively.


INFLATION AND OTHER MARKET CONDITIONS

The  Company's  costs are affected by inflation  in the U.S.  economy,  and to a
lesser extent, in foreign economies including those of Europe,  Canada,  Mexico,
and the Pacific  Rim.  The Company  does not believe  that  inflation  has had a
material effect on results of operations over the periods  presented  because of
low inflation levels over the periods and because the Company has generally been
able to pass on rising costs through  price  increases.  However,  in the future
there can be no assurance  that the  Company's  business will not be affected by
inflation or that it will be able to pass on cost increases.


SEASONALITY AND QUARTERLY RESULTS

Quarterly  results may be  materially  affected by the timing of large  customer
orders,  by  periods  of  high  vacation  and  holiday  concentrations,  and  by
acquisitions and the magnitude of acquisition  costs.  Therefore,  the operating
results for any  particular  fiscal  quarter are not  necessarily  indicative of
results for any subsequent fiscal quarter or for the full fiscal year.


EFFECTS OF NEW ACCOUNTING PRONOUNCEMENTS

The Financial  Accounting  Standards Board (FASB) issued SFAS No. 141, "Business
Combinations"  and No. 142,  "Goodwill and Other  Intangible  Assets" in June of
2001. SFAS No. 141 requires the use of the purchase method of accounting for all
business combinations  initiated after June 30, 2001. SFAS No. 142 requires that
goodwill and  indefinite  lived  intangible  assets no longer be amortized,  but
tested for impairment. This statement, which will be effective for the Company's
fiscal year beginning  after April 1, 2002,  must be adopted at the beginning of
the fiscal year. At the present time,  the Company has not determined the impact
of adoption.
















                                     - 16 -


<PAGE>


SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This report may include  "forward-looking  statements" within the meaning of the
Private Securities  Litigation Reform Act of 1995. Such statements involve known
and unknown risks,  uncertainties  and other factors that could cause the actual
results of the  Company  to differ  materially  from the  results  expressed  or
implied by such statements,  including general economic and business conditions,
conditions  affecting the industries served by the Company and its subsidiaries,
conditions affecting the Company's customers and suppliers, competitor responses
to the Company's  products and services,  the overall market  acceptance of such
products  and  services,  the  integration  of  acquisitions  and other  factors
disclosed  in  the  Company's   periodic  reports  filed  with  the  Commission.
Consequently such forward-looking statements should be regarded as the Company's
current  plans,  estimates  and  beliefs.  The Company  does not  undertake  and
specifically  declines  any  obligation  to publicly  release the results of any
revisions to these  forward-looking  statements  that may be made to reflect any
future events or  circumstances  after the date of such statements or to reflect
the occurrence of anticipated or unanticipated events.









































                                     - 17 -


<PAGE>


PART II. OTHER INFORMATION

Item 1.    Legal Proceedings - none.

Item 2.    Changes in Securities - none.

Item 3.    Defaults upon Senior Securities - none.

Item 4.    Submission of Matters to a Vote of Security Holders - none.

Item 5.    Other Information - none.

Item 6.    Exhibits and Reports on Form 8-K

           Exhibit 10.1     Columbus McKinnon  Corporation  Corporate  Incentive
                            Plan.


           There are no reports on Form 8-K.








































                                     - 18 -


<PAGE>


                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                          COLUMBUS MCKINNON CORPORATION
                                          -----------------------------
                                          (Registrant)






Date: AUGUST 15, 2001                     /S/ ROBERT L. MONTGOMERY, JR.
      ---------------                     ---------------------------------
                                          Robert L. Montgomery, Jr.
                                          Executive Vice President and
                                             Chief Financial Officer (Principal
                                             Financial Officer)





































                                     - 19 -