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I run a small family office managing long-term equities portfolios and special projects extending beyond the capital markets. I'm fortunate to have worked for a NYSE-traded financial firm for the decade through 2010, but I'm not an adviser, my articles only share my investing actions/opinions,... More
  • Manitowoc Company: Company Overview 0 comments
    Aug 4, 2014 7:20 AM | about stocks: MTW

    Below are details about the company structure and history to supplement my articles. Listed chronologically, my articles on MTW are here, here and here.

    Company Overview

    The Manitowoc Company, Inc. (NYSE: MTW) was founded in 1902 as the Manitowoc Dry Dock Company, a shipbuilding firm in Manitowoc, Wisconsin.

    The company has since grown and diversified, first entering the lattice-boom crane business in the 1920's. The Manitowoc Speedcrane, developed in 1925, is the Manitowoc Cranes of today. Manitowoc Equipment Works, formed shortly after World War II, branched into commercial refrigeration equipment and is now Manitowoc Foodservice.

    Manitowoc sold its Marine Group business in 2008, and expanded its foodservice operations that same year with the acquisition of food-equipment manufacturer Enodis.

    Today, Manitowoc is a multi-industry, capital goods manufacturer with nearly 100 manufacturing, distribution, service, and/or office facilities in 26 countries.

    Manitowoc Cranes and Manitowoc Foodservice now represent the company's two operating segments. Manitowoc Cranes generated 62% of total revenues in 2013, and Manitowoc Foodservice generated 38% of total revenues in 2013. Manitowoc Cranes generated 47% of operating earnings in 2013, and Manitowoc Foodservice generated 53% of operating earnings in 2013.

    The Crane segment generates over 60% of revenue from non-U.S. markets. By leveraging the Manitowoc Cranes' strategic focus on innovation and its strong global footprint, which includes 31 facilities in 16 countries, Manitowoc can customize and build its crane products for a wide range of end markets. Additionally, the segment's aftermarket business is a key differentiator that sets Manitowoc apart.

    The Foodservice segment is among the world's leading innovators and manufacturers of commercial foodservice equipment. With a worldwide network of 120 distributors promoting 35 leading brands, and a global presence that spans five continents and more than 80 countries, Manitowoc Foodservice serves the ice, beverage, refrigeration, food preparation, and cooking needs of the largest global restaurant chains, convenience stores, hotels, healthcare, and institutional applications.

    See the Manitowoc Company corporate website for more information.

    Disclosure: The author is long MTW.

    Additional disclosure: I am long MTW, and may buy or sell shares at any time, though I currently have no immediate plans to buy or sell.

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