The Manitowoc Company Welcomes Strong Reception at ConExpo 2014


MANITOWOC, Wis.--(BUSINESS WIRE)--Mar. 10, 2014-- The Manitowoc Company, Inc. (NYSE: MTW) recently welcomed strong reception of its new cranes and innovative crane designs at ConExpo 2014 in Las Vegas. During the five-day show, which concluded on March 8, Manitowoc introduced an array of ten technologically advanced products that will greatly improve customers’ job-site efficiency, operating cost, and profitability.

“Overall, Manitowoc had high expectations prior to ConExpo, and they were exceeded,” remarked Glen E. Tellock, Manitowoc’s chairman and chief executive officer. “Those that attended the show can certainly attest that the highlight of Manitowoc’s exhibit was our new Variable Position Counterweight (VPC) crawler crane technology. The financial benefit of these crawler orders, as well as show orders for various Potain tower cranes and Grove mobile cranes, will positively affect 2015 financial results.”

Consistent with Manitowoc’s information disclosure policy, the company will disclose order activity for the full quarter in its first quarter financial communications, which will include orders placed at ConExpo 2014.

About The Manitowoc Company, Inc.

Founded in 1902, The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with over 100 manufacturing, distribution, and service facilities in 20 countries. The company is recognized globally as one of the premier innovators and providers of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry, which are complemented by a slate of industry-leading product support services. In addition, Manitowoc is one of the world's leading innovators and manufacturers of commercial foodservice equipment, which includes 24 market-leading brands of hot- and cold-focused equipment. In 2013, Manitowoc’s revenues totaled $4.0 billion, with more than half of these revenues generated outside of the United States.

Forward-looking Statements

This press release includes "forward-looking statements" intended to qualify for the safe harbor from liability under the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations of the management of the company and are subject to uncertainty and changes in circumstances. Forward-looking statements include, without limitation, statements typically containing words such as "intends," "expects," "anticipates," "targets," "estimates," and words of similar import. By their nature, forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results and developments to differ materially include, among others:

  • the ability to convert order and order activity into sales and the timing for those sales;
  • unanticipated changes in revenues, margins, costs, and capital expenditures;
  • uncertainties associated with new product introductions, the successful development and market acceptance of new and innovative products that drive growth;
  • actions of competitors;
  • the ability of Manitowoc's customers to receive financing;
  • efficiencies and capacity utilization of facilities; and
  • risks and other factors cited in Manitowoc's filings with the United States Securities and Exchange Commission.

Manitowoc undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements only speak as of the date on which they are made. Information on the potential factors that could affect the company's actual results of operations is included in its filings with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

Source: The Manitowoc Company, Inc.

The Manitowoc Company, Inc.
Carl J. Laurino
Senior Vice President and Chief Financial Officer