The Manitowoc Company

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

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. In November 2002, the company acquired the 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:

Potain at Reed Exhibitions event Batimat

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. It also repaired a ferry from New York. 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 (2016)[7]
Roy V. Armes - Chairman, President & Chief Executive Officer Cooper Tire & Rubber Company
Dino J. Bianco - Former Executive Vice President Kraft Foods Group, Inc.
Robert G. Bohn - Retired Chairman & CEO Oshkosh Corporation
Joan K. Chow - Executive Vice President & Chief Marketing Officer ConAgra Foods, Inc.
Donald M. Condon, Jr. - President IDSM Distribution Services, Inc.
Cynthia M. Egnotovich - Retired President, Customer Service – Aerospace Systems United Technologies Corporation
Kenneth W. Krueger — Interim Chairman, President and CEO, The Manitowoc Company, Inc.
Jesse A. Lynn - General Counsel Icahn Enterprises L.P.
Keith D. Nosbusch - Chairman, President, and Chief Executive Officer Rockwell Automation, Inc.


Senior Management (2016)[8]
Kenneth W. Krueger — Interim Chairman, President and CEO, The Manitowoc Company, Inc.
Carl J. Laurino — Senior Vice President and CFO.
Maurice D. Jones — Senior Vice President, General Counsel and Secretary
Thomas G. Musial — Senior Vice President, Human Resources & Administration
Hubertus M. Muehlhaeuser — President & Chief Executive Officer, Manitowoc Foodservice Inc. Senior Vice President – The Manitowoc Company, Inc.
Therese Houlahan — Corporate Treasurer
Eric P. Etchart — Senior Vice President of Business Development, The Manitowoc Company, Inc.
Barry L. Pennypacker — President and Chief Executive Officer, Manitowoc Cranes, Inc.
Lawrence J. Weyers — Executive Vice President, Manitowoc Cranes, Inc.


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
2008[18] 4,503 519.8 639.8 10,500
2009[19] 4,005.0 333.6 2,520 10,500
2010[20] 4,005.0 333.6 2,520 10,500
2011[21] 4,005.0 333.6 2,520 10,500
2012[22] 4,005.0 333.6 2,520 10,500
2013[23] 4,005.0 333.6 2,520 10,500
2014[24] 4,005.0 333.6 2,520 10,500
2015[25] TBD TBD TBD TBD

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. ↑ "Manitowoc Wind Power Crane". Alternative Energy. 2007-05-15. Retrieved 2008-09-07.
  4. ↑ Barrett, Rick (July 1, 2008). "Manitowoc Co. wins Enodis". Journal Sentinel. Retrieved 22 May 2014.
  5. ↑ "Fincantieri Acquires Manitowoc Marine". Defense Industry Daily. 2008-08-11. Retrieved 2008-10-26.
  6. ↑ "Manitowoc Completes Sale of Its Marine Business". The Manitowoc Company. 2009-01-02.
  7. ↑ http://ir.manitowoc.com/investor-relations/corporate-governance/board-of-directors/default.aspx
  8. ↑ http://ir.manitowoc.com/investor-relations/corporate-governance/senior-management/default.aspx
  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
  18. ↑ http://s21.q4cdn.com/317190449/files/doc_financials/annual/93F4B15B-5575-4AE9-BCFE-688233EAA371_2009ManitowocAR.pdf
  19. ↑ The Manitowoc Company. 2007 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  20. ↑ The Manitowoc Company. 2007 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  21. ↑ The Manitowoc Company. 2007 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  22. ↑ The Manitowoc Company. 2007 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  23. ↑ The Manitowoc Company. 2007 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  24. ↑ The Manitowoc Company. 2007 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  25. ↑ The Manitowoc Company. 2007 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009

External links

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