The Manitowoc Company

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The Manitowoc Company, Inc.
Public
Traded as NYSE: MTW
Industry Manufacturing
Founded 1902
Headquarters 2400 South 44th Street
Manitowoc, Wisconsin, United States
Products Cranes and food service equipment
Number of employees
 16,000
Divisions Manitowoc Cranes, Manitowoc Foodservice
Website www.manitowoc.com

Manitowoc Company Inc is an American global company specializing in products for the food service and construction industries. Manitowoc completed the divestiture of their marine division in January 2009.[1]

History

File:USS Robalo SS-273 launch.jpg
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 the Grove Crane company for approximately $271 million.

Construction

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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.
File:Vue interieur grue Potain Batimat 2011.jpg
Potain at Reed Exhibitions event Batimat
  • Potain cranes — Tower cranes and Self erecting tower cranes. Founded in La Clayette, France in 1928.
  • National Crane — Telescoping Boom Trucks (articulating line was discontinued at the end of 2008). Founded in Waverly, Nebraska in 1963 and all production of National Crane Boom Trucks moved to Shady Grove, Pa. after the acquisition by Manitowoc.
  • 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.

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

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. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  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

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