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Manitowoc Selected to Build Navy Lighterage System (INLS)

Maritime Activity Reports, Inc.

August 13, 2003

The Manitowoc Company, Inc. and its subsidiary, Marinette Marine Corporation, part of the Manitowoc Marine Group, have been awarded a $40.5 million contract by the Naval Facilities Engineering Command, Department of the U.S. Navy, to build the Improved Navy Lighterage System (INLS). The contract contains additional fixed options that can be exercised over the next five years for a maximum amount of $404.8 million. As part of the initial contract, Marinette Marine will build 29 barges that can be assembled into floating platforms or causeway systems to transport heavy materials such as tanks, trucks, and cargo between ship and shore. Each barge will be approximately 80 ft. by 24 ft., will weigh between 75 and 124 tons, and will be capable of carrying approximately 150 tons of cargo. Six of the 29 barges will be powered by 360-degree rotating water-jet thrusters for propulsion and station-keeping. "We are pleased to have been selected by the U.S. Navy for this important system," said Dennis McCloskey, president of Manitowoc's Marine Group. "This contract comes on the heels of our selection as a finalist in the Navy's Littoral Combat Ship project with our partners Lockheed-Martin, Gibbs & Cox, and Bollinger Shipyards, as well as our recent selection by the U.S. Coast Guard as one of three companies to build a Response Boat Medium prototype with our partner, Kvichak Marine of Seattle. We look forward to strengthening our relationship with our valued government customers."

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