Corporate Overview

The Manitowoc Company, Inc. was founded in 1902 and has over a 120-year tradition of providing high-quality, customer-focused products and support services to its markets. Manitowoc is one of the world's leading providers of engineered lifting solutions. Manitowoc, through its wholly-owned subsidiaries, designs, manufactures, markets, and supports comprehensive product lines of mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under the Aspen Equipment, Grove, Manitowoc, MGX Equipment Services, National Crane, Potain and Shuttlelift brand names.

After several years of aggressively reducing our costs, modernizing our product portfolio, and strengthening our balance sheet, we shifted our strategy to growth in 2021, driven by our four breakthrough initiatives:

    • Grow EU Tower crane rental and aftermarket business
    • Grow our Belt & Road presence (Middle East market regional focus)
    • Expand our aftermarket in North America´╗┐
    • Leverage All-terrain NPD (new product development) to grow aftermarket

Manitowoc historically operated as a product-focused company, enduring the difficulties of the volatile market cycles for new cranes. To achieve sustainable growth, however, in both our sales and earnings, we are placing greater emphasis on growing non-new machine sales (i.e., aftermarket parts, services, rentals, used cranes, and digital solutions). Growing this part of our business will provide us with more annuity-like revenue streams to lessen the impact of the crane market cyclicality.

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