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. Following a series of meetings with a federal mediator, the union’s bargaining committee presented the company’s settlement offer to its members. After rejecting the offer, Local 516 initiated a walk-off, which began at midnight on November 18, 2003.