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, 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 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. 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.
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
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
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
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. 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.
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)
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]
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 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 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, 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, 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 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 cutter Mackinaw is one of 31 vessels Marinette Marine Corp. has produced for the U.S. Coast Guard. The company is also building 180 high-speed interdiction boats for the Coast Guard over the next decade, said Bob Herre, president of the Manitowoc Marine Group.
Manitowoc Crane Group has acquired the Carrydeck line of mobile industrial cranes from privately held Marine Travelift, Inc. of Sturgeon Bay. Terms of the agreement were not disclosed. The proposed acquisition was included in the company's 2007 financial guidance provided on November 28
The shipbuilding subsidiary of Manitowoc Co. Inc. has received an order for lighterage systems by the U.S. Navy valued at $65.8m. The contract with the Naval Facilities Engineering Command, Department of the U.S. Navy, represents the second option for the Improved Navy Lighterage System (INLS)
According to reports, Manitowoc Co. signed a contract worth $360m with the Navy to build a new system designed to move equipment between ships and the shore. The Navy picked the Manitowoc Marine Group in 2003 to build the Improved Navy Lighterage System (INLS)
The Manitowoc Company, Inc. announced that it has signed a contract with the Naval Facilities Engineering Command, Department of the U.S. Navy, on options for the Improved Navy Lighterage System (INLS). The Navy selected Manitowoc Marine Group in 2003 to build the INLS, and the first