Manitowoc Announces Closing of National Crane Facility

Monday, May 12, 2003
The Manitowoc Company, Inc. announced today that it will close its National Crane boom-truck manufacturing facility in Waverly, NE and will move production to the company's facility in Shady Grove, PA. Both facilities were acquired when Manitowoc purchased Grove Worldwide last year. The closing is expected to take place by the end of 2003. The transfer of production will improve long-term utilization and productivity given the advanced systems already in place at Shady Grove. Proceeds from the sale of assets are expected to equal or slightly exceed the after-tax costs associated with the move. These costs will primarily be reflected as an adjustment to the purchase price of Grove Worldwide. "As we continue to integrate Grove Worldwide, we will fully leverage the synergies available in order to ensure that the Crane segment is sized for profitability under current market conditions and that the business is positioned to take off when the economy improves," said Glen E. Tellock, president of Manitowoc's Crane Group. "Customers should be assured that our National Crane field sales and service support staff are not expected to change. Operationally, our Shady Grove plant offers world-class manufacturing equipment, processes, and systems. Our integration plans will include the creation of specialized teams from both locations to ensure a smooth transition, and our customers will continue to receive the highest quality products at exceptional values. Product quality and reliability will not be compromised. We will continue to focus on investing in new products, and our customers will continue to be supported by the highest quality sales and aftermarket support team in the industry," Tellock added.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

TOTE, Saltchuk Secure Financing for Marlin Class Vessels

Maritime Administration to Provide Title XI Loan Guarantee for World’s First LNG Containerships Today, the U.S. Maritime Administration (MARAD) announced a $324.

Transocean: Fleet Update Summary

Transocean Ltd. today issued a monthly fleet update summary which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service

Barczak Joins Alan C. McClure Associates

Naval architecture and engineering firm Alan C. McClure Associates (ACMA) announced today that Registered Professional Engineer Nicholas Barczakhas joined the ACMA team as a naval architect.

Environmental

TOTE, Saltchuk Secure Financing for Marlin Class Vessels

Maritime Administration to Provide Title XI Loan Guarantee for World’s First LNG Containerships Today, the U.S. Maritime Administration (MARAD) announced a $324.

Maersk CEO Appointed to UN Advisory

Morten Engelstoft, CEO of Services and Other Shipping, said CO2 issues will be on his agenda as a newly appointed member of a UN High-level Advisory Group for Sustainable Transport.

San Francisco Bay Fuel Spill Under Investigation

The U.S. Coast Guard and California Department of Fish and Wildlife personnel continue to respond to a fuel spill that occurred near Pier 45 at Fishman's Wharf in the San Francisco Bay Saturday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1543 sec (6 req/sec)