Manitowoc Awarded Contract

Manitowac was awarded a U.S. Coast Guard contract valued at more than $80 million. The Manitowoc Company, Inc. the leading provider of shipbuilding and ship-repair services for the U.S. Great Lakes maritime industry, announced that the United States Coast Guard has awarded Manitowoc Marine Group an $82.4-million contract to build a new Great Lakes ice breaker.

The new vessel, which is currently unnamed, will be approximately 240 feet long, 60 feet wide, and will displace 3,500 long tons. In addition to breaking ice to keep shipping lanes open on the Great Lakes, the multi-mission vessel will service aids to navigation, as well as performing search and rescue, pollution control, security, and law enforcement duties from its homeport of Cheboygan, Michigan.

"With this contract, Manitowoc Marine Group has been awarded more than $200 million in shipbuilding contracts in October alone, providing additional validation of our strategic decision to acquire Marinette Marine last year," said Terry D. Growcock, Manitowoc's president and chief executive officer.

"The contract also enhances our status as the leading shipbuilder on the U.S. Great Lakes." Tom Byrne, president of Manitowoc Marine Group, added, "We plan to build the ice breaker at Marinette Marine under a contract that will span more than three years. Not only are we are very pleased to continue Manitowoc's long-standing relationship with the U.S. Coast Guard, we are proud to be their largest supplier, providing both shipbuilding and ship-repair work for their growing fleet of multi-purpose vessels."

The new ice breaker, which will be delivered in 2005, replaces the Mackinaw, a 290-foot Coast Guard cutter that was built in 1944. Key factors in landing this latest Coast Guard contract included Manitowoc's technical and engineering capabilities, management expertise, and cost competitiveness.

Earlier this month, Manitowoc announced that the City of New York had awarded the Manitowoc Marine Group a contract to build three Kennedy-class ferries to provide transportation between Staten Island and Manhattan. The group also recently received a contract for construction of a split-hull dump scow from Great Lakes Dredge & Dock. Combined, those contracts are valued at more than $124 million.