Profile: Manitowoc Company Inc (MTW.N)

MTW.N on New York Stock Exchange

2 Oct 2015
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The Manitowoc Company, Inc. (MTW), incorporated on July 15, 1920, is a multi-industry capital goods manufacturer. The Company operates in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks. Foodservice is a manufacturer of commercial foodservice equipment serving the ice, beverage, refrigeration, food-preparation, holding and cooking needs of restaurants, convenience stores, hotels, healthcare and institutional applications. Its Crane products are principally marketed under the Manitowoc, Grove, Potain, National Crane, Shuttlelift and Manitowoc Crane Care brand names. Its Foodservice products, services and solutions are marketed under Cleveland, Convotherm, Dean, Delfield, Fabristeel, Frymaster, Garland, Inducs, Koolaire, Kolpak, Kysor Panel Systems, Lincoln, Manitowoc Ice, Merco, Merrychef, Multiplex, Servend and U.S. Range, and all are supported by Manitowoc KitchenCare.

Cranes and Related Products

The Company’s Crane segment designs, manufactures and distributes a diversified line of crawler-mounted lattice-boom cranes, which the Company sells under the Manitowoc brand name. Its Crane segment also designs and manufactures a diversified line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name. It designs and manufactures mobile telescopic cranes, which it sells under the Grove and Shuttlelift brand names, and a range of hydraulically powered telescopic boom trucks, which it sells under the National Crane brand name. The Company also provides crane product parts and services, and crane rebuilding, remanufacturing, and training services, which are delivered under the Manitowoc Crane Care brand name. In some cases its products are manufactured for the Company or distributed for the Company under strategic alliances. Its crane products are used in a range of applications throughout the world, including energy production/distribution and utilities, petrochemical and industrial projects, and infrastructure applications, such as road, bridge and airport construction, plus commercial and residential construction.

The Company, under the Manitowoc brand name, designs, manufactures and distributes lattice-boom crawler cranes. Lattice-boom cranes consist of a lattice-boom, which is a fabricated steel structure that has four chords and tubular lacings, mounted on a base which is either crawler or truck mounted. The Company offers models of lattice-boom cranes with lifting capacities up to 2,500 United States tons, which are used to lift material and equipment in a range of applications and end markets, including heavy construction, bridge and highway, duty cycle and infrastructure and energy-related projects. These cranes are also used by the value-added crane rental industry. The Company also offers its lattice-boom crawler crane customers various attachments that provide its cranes with capacity in terms of height, movement and lifting. Its principal attachments are MAX-ER attachments, luffing jibs and RINGER attachments.

The Company, under the Potain brand name, designs and manufactures tower cranes utilized primarily in the energy, building and construction industries. The Company offers a range of tower crane products, including top slewing, luffing jib, topless, self-erecting, and special cranes for dams, harbors and other building projects. Top-slewing cranes are the traditional form of tower cranes. Self-erecting cranes are bottom-slewing cranes which have a counterweight located at the bottom of the mast and are able to be erected, used and dismantled on job sites without assist cranes. Top-slewing tower cranes have a tower and multi-sectioned horizontal jib. It offers 23 models of top-slewing tower cranes with maximum jib lengths of 80 meters and lifting capabilities ranging between three and 80 metric tons. Topless tower cranes are a type of top-slewing crane and have no cathead or jib tie-bars on the top of the mast. It offers 19 models of topless tower cranes with maximum jib lengths of 75 meters and lifting capabilities ranging between 1.1 and 16 metric tons. Luffing jib tower cranes, a type of top-slewing crane, have an angled jib. The Company offers 11 models of luffing jib tower cranes with maximum jib lengths of 60 meters and lifting capabilities ranging between 1.6 and 32 metric tons. Self-erecting tower cranes are mounted on axles or transported on a trailer. It offers 20 models of self-erecting cranes with maximum jib lengths of 50 meters and lifting capacities ranging between 0.65 and eight metric tons, which are utilized in low to medium rise construction and residential applications.

The Company, under the Grove brand name, designs and manufactures 34 models of mobile telescopic cranes utilized primarily in industrial, commercial and construction applications, as well as in maintenance applications to lift and move material at job sites. Mobile telescopic cranes consist of a telescopic boom mounted on a wheeled carrier. The Company offers four types of mobile telescopic cranes capable of reaching tip heights of up to 446 feet with lifting capacities up to 550 United States tons, which include rough-terrain, all-terrain, truck-mounted and industrial. Rough-terrain cranes are designed to lift materials and equipment on rough or uneven terrain. The Company produces, under the Grove brand name, 10 models of rough-terrain cranes capable of tip heights of up to 312 feet and maximum load capacities of up to 150 United States tons. All-terrain cranes are cranes designed to lift materials and equipment on rough or uneven terrain. The Company produces, under the Grove brand name, 14 models of all-terrain cranes capable of tip heights of up to 449 feet and maximum load capacities of up to 550 United States tons. It produces, under the Grove brand name, three models of truck mounted cranes capable of tip heights of up to 237 feet and maximum load capacities of up to 110 United States tons. Industrial cranes are designed for plant maintenance, storage yard and material handling jobs. It manufactures, under the Grove and Shuttlelift brand names, eight models of industrial cranes. It produces industrial cranes with up to 25 United States ton capacity and tip heights of up to 86 feet. The Company offers hydraulic boom truck products under the National Crane product line. It offers, under the National Crane brand name, 22 models of telescoping boom trucks. This type of cranes are capable of reaching maximum heights of 205 feet and have lifting capacity up to 60 United States tons.

The Company competes with Hitachi Sumitomo, Kobelco, Liebherr, Sumitomo/Link-Belt, Terex, XCMG, Fushun, Zoomlion, Fuwa, Sany, Comansa, Terex Comedil/Peiner, FM Gru, Jaso, Raimondi, Viccario, Saez, Benezzato, Cattaneo, Sichuan Construction Machinery, Shenyang, Jianglu, Yongmao, Tadano, Kato, Locatelli, Marchetti, Luna, Broderson, Valla, Ormig, Bencini, Manitex, Altec, Elliott, Fassi, Palfinger, Furukawa and Hiab.

Foodservice Equipment

The Company’s Foodservice Equipment business designs, manufactures and sells primary cooking and warming equipment; ice machines and storage bins; refrigerator and freezer equipment; beverage dispensers and related products, and serving and storage equipment. Its suite of products is used by commercial and institutional foodservice operators, such as full service restaurants, quick-service restaurant (QSR) chains, hotels, caterers, supermarkets, convenience stores, business and industry, hospitals, schools and other institutions.

The Company designs, manufactures and sells an array of ranges, griddles, grills, combination ovens, convection ovens, conveyor ovens, induction cookers, broilers, tilt fry pans/kettles/skillets, braising pans, cheese melters/salamanders, cook stations, table top and counter top cooking/frying systems, fryers, steam jacketed kettles and steamers. It sells traditional oven, combi oven, convection oven, conveyor oven, rapid cooking ovens, range and grill products under the Convotherm, Garland, Lincoln, Merrychef, U.S. Range, and other brand names. Fryers and frying systems are marketed under the Frymaster and Dean brand names, while steam equipment is manufactured and sold under the Cleveland brand. In addition to cooking, the Company provides a range of warming, holding and serving equipment under the Delfield, Fabristeel, Frymaster, Merco, and other brand names.

The Company designs, manufactures and sells ice machines under the Manitowoc brand name and Koolaire brand names, serving the foodservice, convenience store, healthcare, restaurant, lodging and other markets. The Company designs, manufactures and sells commercial upright and undercounter refrigerators and freezers, blast freezers, blast chillers and cook-chill systems under the Delfield, McCall, Koolaire, and other brand names. The Company manufactures, under the brand names Kolpak and Kysor Panel Systems, modular and fully assembled walk-in refrigerators, coolers and freezers and prefabricated cooler and freezer panels for use in the construction of refrigerated storage rooms and environmental systems. It also designs and manufactures refrigeration systems under the RDI brand name. The Company produces beverage dispensers, blended ice machines, ice/beverage dispensers, beer coolers, post-mix dispensing valves, backroom equipment and support system components and related equipment for use by QSR chains, convenience stores, bottling operations, movie theaters and the soft-drink industry. Its beverage and related products are sold under the Servend, Multiplex, TruPour, Manitowoc Beverage Systems and McCann’s brand names. It designs, manufactures and sells a range of cafeteria/buffet equipment stations, bins, boxes, warming cabinets, display and deli cases, insulated and refrigerated salad/food bars, and warmers. Its equipment stations, cases, food bars and food serving lines are marketed under the Delfield and other brand names.

The Company provides parts and aftermarket service, as well as provides a variety of solutions under the KitchenCare brand name. The end-customer base for the Foodservice segment consists of a range of foodservice providers, including, but not limited to, multinational and regional chain restaurants, convenience stores and retail stores; chain and independent casual and family dining restaurants; independent restaurants and caterers; lodging, resort, leisure and convention facilities; healthcare facilities; schools and universities; business and industrial customers, and many other foodservice outlets.

The Company competes with Hoshizaki, Scotsman, Follet, Ice-O-Matic, Brema, Aucma, Vogt, Automatic Bar Controls, Celli, Cornelius, Taylor, Vin Service, American Panel, ICS, Nor-Lake, Master-Bilt, Thermo-Kool, Bally, Arctic, Beverage Air, Traulsen, True Foodservice, TurboAir, Ali Group, Electrolux, Dover Industries, Duke, Henny Penny, ITW, Middleby, Rational, Alto Shaam, Cambro, Hatco, Standex, Vollrath, Bizerba, German Knife, Globe and Univex.

Company Address

Manitowoc Company Inc

2400 S 44th St
MANITOWOC   WI   54220-5846
P: +1920.6522222

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