The Manitowoc Company

The Manitowoc Company, Inc.

Type	Public
Traded as	NYSE: MTW
Industry	Manufacturing
Founded	1902
Headquarters	Manitowoc, Wisconsin, United States
Products	Cranes and food service equipment
Employees	16,000
Divisions	Manitowoc Cranes, Manitowoc Foodservice
Website	http://www.manitowoc.com

Manitowoc Company Inc (NYSE: MTW) is a global company specializing in products for the food service and construction industries. Manitowoc recently completed the divestiture of their marine division in January 2009.^[1]

History

Launch of the USS Robalo (SS-273) at Manitowoc

Manitowoc Company, Inc. was founded by Charles West and Elias Gunnell in the lakeshore community of Manitowoc, Wisconsin, in 1902. It was known as a shipbuilding and ship-repair company under the name Manitowoc Shipbuilding Company. Since that time, the company has grown and diversified, entering the lattice-boom crane business in the mid-1920s and branching into commercial refrigeration equipment shortly after World War II. During World War II, the Department of the Navy contracted Manitowoc to build a total of 28 submarines, plus the canceled USS Chicolar (SS-464).^[2] Before they built the submarines for the Department of the Navy, the company built car ferries.^{[citation needed]} In November 2002, the company acquired Grove Crane company for approximately $271 million.

Construction

Main article: Manitowoc Cranes

Manitowoc produces several lines of cranes to serve the construction industries. The company produces high-capacity lattice-boom crawler cranes, tower cranes, and mobile telescopic cranes for heavy construction, commercial construction, energy-related, wind farm,^[3] infrastructure, duty-cycle and crane-rental applications. It is also a producer of boom trucks.

Main Brands;

• Manitowoc cranes — Crawler cranes
• Grove cranes — rough-terrain, truck-mounted, all-terrain, Grove YardBoss, industrial cranes and Shuttlelift carry deck cranes. Grove began producing cranes in 1947 in Shady Grove, Pa.

Potain at Reed Exhibitions event Batimat

• Potain cranes — Tower cranes and Self erecting tower cranes. Founded in La Clayette, France in 1928.
• National Crane — Articulating truck-mounted cranes (telescoping line was discontinued at the end of 2008). Founded in Nebraska in 1947 and all production of National Cranes moved to Shady Grove, Pa. after the acquisition by Manitowoc. Manitowoc in now building a huge crane to work in the diamond mines.

Manitowoc Crane Care — customer service branch established in 2000. Crane Care operates in 15 countries at 22 locations.

Foodservice division

Manitowoc Foodservice is a sub-division of the Manitowoc Company that produces ice machines and refrigeration equipment for businesses. Manitowoc holds sole rights to having their ice machines installed in Coca Cola dispensers.

In 2008, the company acquired Enodis PLC, a UK-based supplier of restaurant equipment, including fryers, ovens, and ice machines. Manitowoc Foodservice announced that they would be selling off the ice division of Enodis, and the sale of that division has been completed.^[4]

Marine division

Manitowoc Marine is a subdivision of the Manitowoc Company, which builds and repairs commercial and military ships at yards in Marinette, Wisconsin, Sturgeon Bay, Wisconsin, and Cleveland, Ohio. The Marinette shipyard, Marinette Marine, built the first Freedom class littoral combat ship for the United States Navy, and the United States Coast Guard Cutter Mackinaw. In August 2008, Manitowoc Marine Division repaired the SS Badger. The SS Badger is like the car ferries that were built by Manitowoc Company before they built 28 submarines for the defense department during World War II.^{[citation needed]} It also repaired a ferry from New York.^{[citation needed]} The Manitowoc Company announced in August 2008 a proposal to sell the marine division to Italian shipbuilder Fincantieri.^[5] The sale closed on December 31, 2008 ^[6]

Corporate governance

Board of Directors (2008)^[7]
Glen E. Tellock — president and CEO, The Manitowoc Company, Inc.
Dean H. Anderson — president and owner, Dynamic Specialties, Inc.
Virgis W. Colbert — executive vice president, Miller Brewing Company
Daniel W. Duval — chairman and CEO, Arrow Electronics, Inc.
Cynthia M. Egnotovich — vice president and segment vice president, Nacelles and Interior Systems
Kenneth W. Krueger — executive vice president, Bucyrus International
Keith D. Nosbusch — president and CEO, Rockwell Automation, Inc.
James L. Packard — chairman, Regal Beloit Corporation
Robert C. Stift — retired chairman, president and CEO, Strategic Industries, LLC.

Senior management (2008)^[8]
Glen E. Tellock — president and CEO, The Manitowoc Company, Inc.
Carl Laurino — senior vice president and CFO.
Maurice D. Jones, senior vice president, general counsel and secretary
Thomas G. Musial — senior vice president — human resources and administration
Dean Nolden — vice president of finance and controller
Eric Etchart, senior vice president, The Manitowoc Company, Inc. and president and general manager, Manitowoc Cranes
Michael J. Kachmer — senior vice president, The Manitowoc Company, Inc. and president and general manager, Manitowoc Foodservice

Financial Information

Year	Net sales (in millions)	Operating earnings (in millions)	Number of shareholders	Number of employees
1999[9]	680.0	59.5	2,746	3,202
2000[10]	737.0	55.8	2,787	4,405
2001[11]	984.0	44.4	2,719	6,124
2002[12]	1,253.0	39.0	2,746	7,766
2003[13]	1,468.0	8.6	2,804	7,700
2004[14]	1,845.0	38.1	2,726	7,600
2005[15]	2,254.0	59.1	-	8,000
2006[16]	2,933.0	166.5	-	9,500
2007[17]	4,005.0	333.6	2,520	10,500

See also

• USS Potomac (AG-25)

References

1. ^ Business Journal of Milwaukee. "Manitowoc closes on sale of Marine unit. 02 January 2009
2. ^ Lenton, H. T. American Submarines (Doubleday, 1973), pp.72, 74, 76, & 94.
3. ^ "Manitowoc Wind Power Crane". Alternative Energy. 2007-05-15. http://www.alternative-energy-news.info/manitowoc-wind-power-crane/. Retrieved 2008-09-07. 
4. ^ {{Cite web With both companies it is like one stop shopping for equipment from ice maches to grills and many other items. One of Enodis most successful companies is Merrychef Ltd. The Manitowoc Company had some trouble with the acquisition of Enodis PLC because Enodis owned some ice companies called Icematic and Tecnomac with The Manitowoc Ice division and these two companies Manitowoc would have a monopoly in the ice business.|url=http://www.jsonline.com/business/29399764.html |title=Manitowoc Co. wins Enodis |publisher=Milwaukee Wisconsin Journal Sentinel |accessdate=2008-10-26 |date=2008-07-01 }}
5. ^ "Fincantieri Acquires Manitowoc Marine". Defense Industry Daily. 2008-08-11. http://www.defenseindustrydaily.com/Fincantieri-Acquires-Manitowoc-Marine-05028. Retrieved 2008-10-26. 
6. ^ "Manitowoc Completes Sale of Its Marine Business". The Manitowoc Company. 2009-01-02. http://ir.manitowoc.com/phoenix.zhtml?c=67844&p=irol-newsArticle2&ID=1240058. 
7. ^ http://ir.manitowoc.com/phoenix.zhtml?c=67844&p=irol-govboard
8. ^ http://ir.manitowoc.com/phoenix.zhtml?c=67844&p=irol-govmanage
9. ^ The Manitowoc Company. 1999 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
10. ^ The Manitowoc Company. 2000 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
11. ^ The Manitowoc Company. 2001 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
12. ^ The Manitowoc Company. 2002 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
13. ^ The Manitowoc Company. 2003 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
14. ^ The Manitowoc Company. 2004 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
15. ^ The Manitowoc Company. 2005 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
16. ^ The Manitowoc Company. 2006 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
17. ^ The Manitowoc Company. 2007 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009

External links

• The Manitowoc Company's website