Manitowoc Close to Signing Navy Deal

Manitowoc Company is close to signing a contract for the U.S. Navy worth about $360m in new business, Reliable Plant Magazine reported. The company also has bid for a Coast Guard contract to build a fleet of high-speed boats, valued at several hundred million dollars, over a period of several years. The company expects to find out if it has won the Coast Guard contract by July. Under this contract, Manitowoc would build barge-like loading systems for military ships. The systems would be a string of barges that, coupled together, would become floating platforms for loading and offloading vehicles (tanks, trucks) and cargo. (Source: Reliable Plant Magazine)