Manitowoc (MTW)

Founded in 1902 in Manitowoc, Wisconsin, The Manitowoc Company, Inc. was initially formed as a shipbuilding and ship-repair organization. Since then, the company grew and diversified its operations, entering the lattice-boom crane business in the mid-1920s and further into commercial refrigeration equipment shortly after World War II. Presently, the company is a leading diversified industrial manufacturer providing high-quality, customer-focused products and support services to its markets worldwide. Manitowoc currently operates in over 20 countries across the globe, serving three principal markets/segments: Cranes and Related Products (Crane), Foodservice Equipment (Foodservice), and Marine. For the year ended December 31, 2007, MTW had net sales of approximately $4.0 billion.

The Crane business is a global provider of engineered lift solutions, offering one of the broadest lines of lifting equipment in the industry. The company designs, manufactures, markets, and supports a comprehensive line of crawler cranes, mobile telescopic cranes, tower cranes, and boom trucks. Its Crane products are marketed under the Manitowoc, Grove, Potain, National, and Crane CARE brand names and are used in a wide variety of applications, including energy, petrochemical and industrial projects, infrastructure development such as road, bridge and airport construction, commercial and high-rise residential construction, mining and dredging.

The Foodservice business is a leading broad-line manufacturer of "cold side" commercial foodservice products. It designs, manufactures, and markets full product lines of ice making machines, walk-in and reach-in refrigerators and freezers, fountain beverage delivery systems, and other foodservice refrigeration products for the lodging, restaurant, healthcare, convenience store, soft-drink bottling, and institutional foodservice markets. Its Foodservice products are marketed under the Manitowoc, SerVend, Multiplex, Kolpak, Harford-Duracool, McCall, McCann's, Koolaire, Flomatic, Kyees, RDI, and other brand names.

The Marine segment provides new construction (commercial/government), ship repair and maintenance services for freshwater and saltwater vessels from two shipyards and one top-side repair yard on the U.S. Great Lakes. It serves the Great Lakes maritime market consisting of U.S. and Canadian fleets, inland waterway operators, and ocean going vessels that transit the Great Lakes and St. Lawrence Seaways.

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