The Manitowoc Company (announced that the company has filed its Annual Report on Form 10-K for the year ended December 31, 2006 with the Securities and Exchange Commission. The filing can be accessed on the company’s Web site at www.manitowoc.com.
The Manitowoc Company announced that it has completed the previously announced redemption of its 10.5% Senior Subordinated Notes due 2012. The call premium paid to note holders was 105.25% of the principal amount of the notes. The total cash paid was $129 million which included the call price, accrued and unpaid interest and other related costs at the time of redemption. The Bank of New York, trustee for the issue, redeemed the notes through its New York office
The Manitowoc Company announced that Thomas J. Byrne, president and general manager of Manitowoc Marine Group and vice president of The Manitowoc Company, will retire at the end of 2002. Dennis McCloskey, current vice president and general manager of the Marinette Marine Corporation, will succeed him in overseeing all aspects of Manitowoc Marine Group, including Marinette Marine, Bay Shipbuilding, and the company's Toledo and Cleveland operations.
The Manitowoc Company, Inc., announced its intention, subject to market and other conditions, to raise approximately $175 million, through a private offering of senior subordinated notes due 2012 to certain qualified institutional investors. In addition, Manitowoc’s obligations will be guaranteed by certain of its U.S. subsidiaries. Manitowoc will use the net proceeds from the sale of the notes offered to refinance outstanding indebtedness of Grove Investors, Inc. and its subsidiaries
The Manitowoc Company, Inc. has finalized its previously announced agreement to purchase Marinette Marine Corporation. Marinette was acquired for approximately $48 million in an all-cash transaction financed through Manitowoc's existing credit facility. Located in Marinette, Wisconsin, just across Green Bay from Manitowoc's Bay Shipbuilding facility, Marinette Marine operates one of the largest shipyards on the U.S. Great Lakes
The Manitowoc Company, Inc., announced that approximately 120 unionized employees at Manitowoc Cranes walked off their jobs after rejecting a five-year labor agreement, which was proposed by the company. The affected workers at the Manitowoc, Wisconsin facility represent 9 percent of the North American workforce of Manitowoc Crane Group and are represented by the International Association of Machinists (IAM) Local 516. The previous contract for IAM Local 516 expired on October 31, 2003.
Vessel Management Services, Inc., a Crowley Maritime Corporation subsidiary and part of its corporate services segment, Friday christened the third of four Articulated Tug-Barge (ATB) tank vessels that the company will take delivery of this year. The vessels, 9,280 horsepower tug Ocean Reliance and 155,000-barrel barge 550-3, were built by The Manitowoc Company, Inc. At ceremonies held at the Bay Shipbuilding Company in Sturgeon Bay, Wis, Molly Crowley, a director on Crowley's board
The Manitowoc Company, Inc. named Timothy M. Wood as its new senior vice president and chief financial officer. He assumes the role from Carl J. Laurino, corporate treasurer, who had been serving on an interim basis since May. Wood, 54, of Chicago, brings 30 years of financial experience to the post. He previously held the same title at Redem Technologies, but spent the bulk of his career - 23 years - with Borg-Warner Corporation
The Manitowoc Company, Inc. notes the announcement by Enodis plc. It confirms that it approached the Board of Enodis with an indicative, non-binding cash proposal, which during a meeting with senior representatives of Enodis, was rejected. Terry D. Growcock, Manitowoc’s Chairman and Chief Executive Officer, said, “The Company is disappointed that Enodis has rejected its indicative proposal. Manitowoc remains committed to identifying and pursuing strategic acquisition opportunities
The Manitowoc Company, Inc. has reached an agreement with Valcovna profilov a.s. for the development of a crane manufacturing facility in Saris, Slovakia. The facility, which will be refurbished and re-equipped, will serve as the final manufacturing and assembly site for Grove, Potain, and Manitowoc cranes being delivered to customers in East European markets, particularly in Russia and the CIS. The company expects to begin production from the Saris facility in late
Robert Barker is promoted to Senior Vice President and Chief Information Officer, Ingram Barge Company. “Robert has been managing operations, budgets, and varied technological projects of the Information Services group since joining Ingram in 2010,” Craig E
The U.S. Geological Survey awarded a contract for the construction of a large research vessel for Lakes Huron, Michigan, and Superior to Burger Boat Company of Manitowoc, Wis. The vessel will replace the 38-year-old Grayling, bringing the USGS Great Lakes Science Center (GLSC) large vessel
Burger Boat Company, celebrating its 150th anniversary, announce the appointment of Thom Conboy as its Commercial Director. As Commercial Director, Thom will be working closely with the shipyard in Manitowoc, WI to secure new construction, refit and repair projects as well as heading its
Burger Boat Company announced the launch of P/V Lucia, an 89-foot steel passenger vessel for Wendella Sightseeing Company, Inc. Lucia, designed by Timothy Graul Marine Design of Sturgeon Bay, Wisc., was launched into the Manitowoc River Friday, May 29 with her owners
The Manitowoc Company announced that its Board of Directors has adopted a new Rights Agreement. In connection with its approval of the Rights Agreement, the Board of Directors declared, to shareholders of record as of March 30, 2007, a dividend distribution of one right for each outstanding
The Manitowoc Company, Inc. announced that the company’s board of directors has elected Glen E. Tellock, as president and chief executive officer, effective immediately. Tellock succeeds Terry D. Growcock, 61, who will remain chairman of the board of directors through 2008
The Manitowoc Company, Inc. will participate in the Bank of America Basics/Industrials Conference, which will be held at the Le Parker Meridien Hotel in New York City from May 8 through May 10, 2007. Terry D. Growcock, chairman of the board, and Carl J
The Manitowoc Company reported outstanding results for the quarter ended June 30, 2007, setting records again for net sales, earnings per share, and backlog. For the quarter, net sales totaled $1.019 billion, the first time that the company's quarterly revenue exceeded $1 billion
The Manitowoc Company said that it has completed the previously announced redemption of its 10.5% Senior Subordinated Notes due 2012. The call premium paid to note holders was 105.25% of the principal amount of the notes. The total cash paid was $129 million which included the call price
The Manitowoc Company, Inc. will release its fourth-quarter 2007 financial results on Monday, February 4, after the market closes. The fourth-quarter results will also be discussed by Manitowoc’s management team during a live conference call for security analysts and institutional investors
The company reported second quarter earnings of $133.9m, or $1.01 per share, up from $97.5 million, or 76 cents per share in the year-ago period. Sales were up to $1.3b. Manitowoc Co. is negotiating to sell its marine division that builds ships, including military vessels, European news reported
Fincantieri - Cantieri Navali Italiani S.p.A., a leader in the commercial and naval shipbuilding industry, signed a definitive acquisition agreement to acquire the Manitowoc Marine Group (MMG), from its parent company, The Manitowoc Company, Inc. [NYSE: MTW]
Marinette Marine's chief executive officer says it will lay off more workers next month, reports said. The shipbuilding division of Manitowoc Co. laid off about 90 union workers last month because of delays in contract awards from the Coast Guard and the U.S. Navy
On Jan. 2, the Manitowoc Company, Inc. (NYSE:MTW) announced the completion, effective as of December 31, 2008, of the previously announced sale of its Marine segment to Fincantieri Marine Group Holdings, Inc., a subsidiary of Fincantieri - Cantieri Navali Italiani SpA (Fincantieri)
The U.S. Navy has awarded a Lockheed Martin (NYSE:LMT) -led industry team a fixed price incentive fee contract to construct the Navy's third Littoral Combat Ship (LCS). Marinette Marine Corporation in Marinette, WI, will construct the ship.