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Manitowoc Co Inc sells interest in Chinese joint venture Manitowoc Dong Yue Heavy Machinery Co., Ltd.


Tuesday, 21 Jan 2014 05:36pm EST 

Manitowoc Co Inc:Says that it has completed the sale of its 50 pct. interest in its Chinese joint venture Manitowoc Dong Yue Heavy Machinery Co., Ltd. (Manitowoc Dong Yue) to its current partner, Tai`an Taishan Heavy Industry Investment Co., Ltd.Says the joint venture was created in early 2008 for the production of mobile and truck-mounted hydraulic cranes.Says the sale is expected to result in non-cash losses which will reduce income attributable to Manitowoc shareholders by approximately $36.0 million in the year ended Dec. 31, 2013. 

Company Quote

20.06
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24 Dec 2014