MANITOWOC, Wis.--(BUSINESS WIRE)--
The Manitowoc Company, Inc. (NYSE: MTW), a leading global manufacturer
of cranes and lifting solutions, today announced it will relocate its
corporate headquarters from Manitowoc, Wisconsin to Milwaukee, Wisconsin.
Manitowoc will lease approximately 16,000-square feet in One Park Place
in the Park Plaza office park. Manitowoc has already started to
transition headquarters employees with the relocation expected to be
completed by the end of the first quarter, 2018 pending completion of
the build-out.
“Manitowoc’s origin as a Wisconsin based manufacturer dates to 1902. The
state has an impressive roster of global manufacturing businesses with a
top-level talent pool, and we are excited about the move of our
corporate headquarters. We believe this location will strategically
create easier accessibility for our customers, shareholders and
employees,” said Barry Pennypacker, President and CEO, The Manitowoc
Company.
Commensurate with the relocation to Milwaukee, the Company has agreed to
the sale of its former headquarters at 2400 S. 44th Street in
Manitowoc. The sale to Manitowoc-based Investors Community Bank is
expected to be complete by the end of the first quarter, 2018.
About The Manitowoc Company, Inc.
Founded in 1902, The Manitowoc Company, Inc. is a leading global
manufacturer of cranes and lifting solutions with manufacturing,
distribution, and service facilities in 20 countries. Manitowoc is
recognized 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
aftermarket product support services. In 2016, Manitowoc’s net sales
totaled $1.6 billion, with over half generated outside the United States.
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Source: The Manitowoc Company, Inc.