Manitowoc and Kobel Sign Crawler Crane Agreement

Manitowoc Crane Group, a business entity of The Manitowoc Company, Inc., has announced an agreement with Kobelco Construction Machinery Co. of Tokyo, Japan, under which Kobelco will supply Manitowoc with a range of lattice-boom crawler cranes with lift capacities under 150 tons. These Manitowoc-branded products will be introduced in the second quarter of 2004. The lattice-boom cranes supplied to Manitowoc by Kobelco will be clearly differentiated from Kobelco’s own product offering. All new models will be sold and supported through Manitowoc’s existing dealer and product support networks. Manitowoc has not yet issued the model designations for the new cranes. Kobelco will continue to market and distribute its own full line of lattice-boom crawler cranes, from 55 U.S. tons to 250 U.S. tons, and will support its products under its current distribution system in the Americas. Glen Tellock, president of Manitowoc Crane Group, said: “As a world leader in the production of lattice-boom crawler cranes, Manitowoc is continually seeking new lifting solutions for our customers. We are very excited about our alliance with Kobelco. The company is an excellent partner to supply cranes because of its product quality and broad range of lifting products. The agreement between our two companies also serves as a base for future opportunities.”