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Manitowoc Company Inc (MTW.N)

MTW.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Manitowoc Company Inc says pricing of MTW Foodservice Escrow Corp's $425 mln senior notes due 2024
Monday, 8 Feb 2016 04:32pm EST 

Manitowoc Company Inc:Manitowoc Company Inc announces the pricing of MTW Foodservice Escrow Corp.'s $425 million offering of senior notes due 2024.Notes will have an interest rate of 9.500% per annum and are being issued at a price equal to 100.000% of their face value.  Full Article

Manitowoc Company Inc announces pricing of MTW Cranes Escrow Corp.'s $260 million offering of senior secured second lien notes due 2021
Monday, 8 Feb 2016 04:32pm EST 

Manitowoc Company Inc:Announces pricing of MTW Cranes Escrow Corp.'s $260 million offering of senior secured second lien notes due 2021.Notes will have an interest rate of 12.750% per annum and are being issued at a price equal to 95.3% of their face value.  Full Article

Manitowoc Company announces divestiture of Kysor Panel Systems Business
Monday, 7 Dec 2015 08:00am EST 

Manitowoc Company, Inc:Announced that it has sold its Kysor Panel Systems business to an affiliate of D Cubed Group LLC, a private market investment firm, for a value of approximately $85 million.Intends to use the Kysor Panel proceeds to further reduce its debt and financial leverage.SunTrust Robinson Humphrey, Inc. acted as exclusive financial advisor to The Manitowoc Company.  Full Article

Manitowoc Company Inc approves 8-Cent per share annual dividend
Wednesday, 28 Oct 2015 05:39pm EDT 

Manitowoc Company Inc:Declared a cash dividend of 8 cents per share of common stock.Payable on Dec. 10, to shareholders of record on Nov. 27.  Full Article

Manitowoc Company Inc appoints Kenneth W. Krueger Interim Chairman, President and Chief Executive Officer
Wednesday, 28 Oct 2015 05:34pm EDT 

Manitowoc Company Inc:Announces that it has named current Board member Kenneth W. Krueger as interim chairman, president and chief executive officer, effective immediately.Also announced that Glen Tellock has resigned as Manitowoc's chairman, president and chief executive officer.Board of Directors has initiated a search for a chief executive officer of Manitowoc Cranes.Hubertus Muehlhaeuser will remain the chief executive officer of Manitowoc Foodservice.  Full Article

Manitowoc Company Inc announces the next phase of its global foodservice manufacturing strategy
Monday, 26 Oct 2015 09:00am EDT 

Manitowoc Company Inc:Says next steps in its global Foodservice manufacturing strategy that includes the company's intention to move products currently manufactured at its Cleveland, Ohio facility to other locations, along with an anticipated shutdown of this facility.Says in addition to the intended closure of the Cleveland facility, The Manitowoc Company expects to close its Irwindale, California distribution warehouse.  Full Article

Manitowoc Company Inc receives favorable final determination in Sany patent infringement lawsuit
Friday, 17 Apr 2015 09:04am EDT 

Manitowoc Company Inc:Announces that The United States International Trade Commission has issued a favorable final determination in the patent infringement and trade secrets case filed by Manitowoc Cranes against Sany Heavy Industries and Sany America.Says the ITC determined that at least one Sany crane product infringed one of Manitowoc's patents.  Full Article

Manitowoc Company announces intent to separate into two independent publicly-traded companies
Thursday, 29 Jan 2015 04:01pm EST 

Manitowoc Company Inc:Announced that its Board of Directors has approved a plan to pursue a separation of the company's Cranes and Foodservice businesses into two independent, publicly-traded companies.Says the company currently anticipates effecting the separation through a tax-free spin-off of the Foodservice business and expects the spin-off to be completed in the first quarter of 2016.Additional information on structure, management, governance, and other matters will be provided at a later date.Goldman, Sachs & Co. is serving as financial advisor and Foley & Lardner LLP and Skadden, Arps, Slate, Meagher & Flom LLP are serving as legal advisors to the company.  Full Article

Manitowoc Company Inc approves annual dividend
Tuesday, 21 Oct 2014 04:36pm EDT 

Manitowoc Company Inc:Declares cash dividend of 8 cents per share of common stock.Payable on Dec. 10 to shareholders of record on Nov. 28.  Full Article

Manitowoc Company Inc gives Q3 2014 guidance
Thursday, 9 Oct 2014 06:58pm EDT 

Manitowoc Company Inc:Expects Q3 2014 net sales to be just under $1 billion.Expects Q3 2014 earnings before interest, amortization, restructuring, and tax to be about $90 million.  Full Article