Manitowoc Cranes
TypePublic
NYSE: MTW
IndustryManufacturing
Headquarters
11270 West Park Place
Milwaukee, Wisconsin
United States
Number of locations
Five regional headquarters,
8 manufacturing sites
Area served
North America
Key people
Aaron H. Ravenscroft (CEO)
ProductsMobile hydraulic cranes, Lattice-boom crawler cranes, Truck-mounted cranes, Tower cranes
Number of employees
5,000
ParentManitowoc Company
Websitewww.manitowoc.com

Manitowoc Cranes is a division of The Manitowoc Company, Inc. Manitowoc Cranes produces five brands of cranes: Grove, National Crane, Shuttlelift, Manitowoc, and Potain. In addition, Manitowoc has two distribution businesses based in the U.S.: Aspen Equipment and MGX Equipment Services (formerly H&E Equipment Services' crane business).

History

Manitowoc Cranes began as a business venture by Charles West and Elias Gunnell. At the time, they headed the Manitowoc Dry Dock Company, now The Manitowoc Company, Inc. After World War I, The Manitowoc Shipbuilding Company was looking to diversify their business.[1]

On the left a Potain MDT 178 from Manitowoc Cranes.

After observing the Moore Speedcrane, manufactured in Fort Wayne, Indiana, Charles West thought cranes were a way to expand the business and use his shipyard's machine shops. In 1925, The Moore Speedcrane Company was in debt, and Charles West was willing to help them build cranes to help provide cash for the struggling company. All patents were signed over to Manitowoc as a liability; however, they would not sell any machines under the Manitowoc name.[1]

The Speedcrane in 1925 was a steam-driven, 15-ton capacity crane that sat on four wheels. Ten models were built by Manitowoc from this basic model. Eventually, after listening to customer feedback, Moore redesigned the crane and installed a gasoline engine. Another major change was the replacement of the wheels with a crawler base that allowed for better traction. The first model from the redesigned Speedcrane was a Model 100.[1]

The Moore Speedcrane Company continued to introduce new models with innovative features; however, this put them deeper into debt. In 1928, when it was apparent that Moore was not going to be able to pay back the debts owed to Manitowoc, they began to manufacture and sell Speedcranes with its own sales force.[1]

The Manitowoc Crane and Manitowoc Food Service Groups separated into two stand alone companies in March 2016. Manitowoc Cranes Stock Symbol MTW and Manitowoc Food Service stock Symbol MFS.

Formation

In 1994, Manitowoc acquired Femco Machine Company, a manufacturer of crane parts. Femco and Manitowoc Re-manufacturing were consolidated to form the Aftermarket Group. In March 2003, Manitowoc sold Femco Machine Company to a group of private investors[2]

Manitex, a boom truck line, was formed by Manitowoc in 1983. Manitowoc acquired two more boom truck companies - USTC in 1998 and Pioneer in 2000. These three brands were combined to form Manitowoc Boom Truck.[3] In 2003, Manitowoc sold off the Manitowoc Boom Truck brand to Quantum Heavy Equipment, LLC.[4]

West-Manitowoc was formed as a separate division of the Manitowoc Corporation in 1994 as the brainchild of Fred Butler, the President of the corporation at that time. The primary purpose of this division was to re-enter the manufacture and marketing of smaller lattice boom crawler cranes, (130 tons and under capacity); a size class that had been dropped from Manitowoc Cranes product line a few years earlier. In its relatively short existence, the West division achieved a leading market position in the U.S. for the 100 ton class of crawler cranes, and became the corporation's leading "Economic Value Added (EVA)" contributor. After re-establishing a market position for the company in the smaller class of crawler cranes, the West-Manitowoc division was merged with Manitowoc Cranes in 1998.

Manitowoc acquired the Potain brand in 2001,[5] followed by Grove and National Crane in 2002. The announcement to acquire Grove Worldwide was made in March 2002 at CONEXPO in Las Vegas, Nevada. Manitowoc purchased Grove for $271 million.[6]

In 2007, Manitowoc announced their acquisition of Shirke, an India-based Potain manufacturer and distributor since 1982.

Brands

Mobile hydraulic cranes

A Grove rough terrain Crane.

Manitowoc's Grove product line includes rough-terrain, truck-mounted, all-terrain, Grove YardBoss, industrial cranes and Shuttlelift Carrydeck cranes. Grove is also a major supplier of custom-built machines to armed forces around the world. The Grove brand includes over 40 models with lifting capacities ranging from 8.5 USt to 550 USt.

In 1947, Grove Manufacturing Company was founded by brothers Dwight L. Grove and John L. Grove and friend Wayne A. Nicarry to produce rubber-tire farm wagons. The company began in a small, rented two-car garage in Shady Grove, Pennsylvania. Grove started out small by building yard-type cranes for its own use and later expanded to produce cranes commercially. As a manufacturer, it has achieved a number of "firsts" in the course of its history, including introducing the world's first slewing rough terrain crane in 1968 and the world's first trapezoidal boom in 1970; and by becoming the first international multi-facility crane manufacturer to receive the ISO 9001 quality assurance certification in 1994.

Manitowoc

Lattice-boom crawler cranes

A Manitowoc Model 999 lattice-boom crawler crane.

The Manitowoc crawler crane product line has 16 products and two capacity-enhancing attachments. Manitowoc lattice-boom crawler cranes was the beginning of Manitowoc Cranes until the major acquisitions in 2001. In 1969, Manitowoc introduced its flagship crane, the Model 4100W. Manitowoc introduced its first self-erecting, all-hydraulic crane, the Model M-250, in 1992.

National Crane

Boom Trucks

Manitowoc also manufactures National Crane Boom Trucks, a line of telescoping boom truck cranes. National Crane was founded in Nebraska by Marlo Burg in 1947, and began by manufacturing roadside weed sprayers. In 1952, National also introduced a line of front-end loaders. Operations were moved to Waverly, Nebraska in 1962, and the name National Crane Corporation was adopted. After ownership passed through a number of companies, Manitowoc acquired National Cranes in 2002, and all production moved to the Grove U.S. LLC, Shady Grove, Pennsylvania facility in 2003.[7]

Potain

Self-erecting and top-slewing cranes

Potain is the Manitowoc brand of tower cranes. They produce both top-slewing and self-erecting models. Potain was a French-based company founded in La Clayette, France, in 1928 by Faustin Potain. The first crane was assembled in 1933.

Distribution and Service

Aspen Equipment and MGX Equipment Services

In 2021, In 2021, Manitowoc completed the acquisition of substantially all of the assets of Aspen Equipment Company, a diversified crane dealer and a leading final stage purpose-built work truck upfitter, and substantially all of the assets and liabilities of the crane business of H&E Equipment Services, Inc. (“H&E”), one of the largest rental equipment companies in the U.S.

Manitowoc Crane Care

Manitowoc Crane Care is the customer service branch of Manitowoc Cranes. Formed in 2000,[8] Crane Care provides customers with parts, service and technical support, technical publications, training, and EnCORE. The EnCORE program rebuilds and repairs run-down or damaged cranes. Manitowoc Crane Care operates in 15 countries at 22 locations.

Manitowoc Finance

Manitowoc Finance provides financing options through different programs to crane customers.

Areas of business

The Americas

Includes North and South America. Regional headquarters is in Shady Grove, Pennsylvania and Corporate headquarters is Milwaukee, Wisconsin.

Europe and Africa

Represents all countries in Europe and Africa regions. Regional offices are in Dardilly, France and Langenfeld, Germany.

Middle East and Asia-Pacific

Represents all countries in the Middle East Greater Asia-Pacific regions. Regional headquarters are in Singapore and Shanghai, China.

Manufacturing facilities

Manitowoc cranes are produced at eight factories in seven countries.

China

Zhangjiagang: Manufactured its first crane in Nov. 2005. Products Potain cranes ranging from 5 USt to 25 USt capacity and Grove and Manitowoc crawler components[9] Manitowoc Crane Care also operates a tower crane training center at this facility.
Tai'an: In 2008, Manitowoc began a joint venture with TaiAn Dongyue Heavy Machinery Company, which was founded in 1972. This facility manufactures Manitowoc Dongyue truck cranes[10] In 2013, Manitowoc announced that its divestiture of the joint venture.

France

Charlieu: Potain self-erecting cranes and mechanisms for all cranes
La Clayette: factory closed 2010; training centre closed 2013
Moulins: Potain tower cranes

Germany

Wilhelmshaven: Grove all-terrains, Grove GTK 1100, Manitowoc 15000[11] Wilhelmshaven underwent an expansion in 2008.[12]

India

Pune: Acquired with the addition of Shirke in 2007. Pune was the headquarters of Shirke. Pune manufactures Potain tower cranes (under license). TIL Limited, a company headquartered in Kolkata, also markets Manitowoc cranes like Grove. Coles Which is a part of Manitowoc owns around 19% equity in TIL Limted.

Italy

Niella Tanaro: Began manufacturing self-erecting cranes in 2000. In 2005, it began to manufacture top-slewing cranes. Niella also underwent an expansion in 2007.[13]

Portugal

Fânzeres: Completes painting, assembly, testing and shipping of Potain tower cranes. Closed in 2017 and consolidated into Baltar.
Baltar: Opened in 2007. This facility works with the site in Fânzeres. Baltar does the majority of cutting and welding.

United States

Port Washington, Wisconsin: In 2006, Manitowoc acquired this factory with the addition of Exactech. In 2007, Port Washington underwent a $7.4 million expansion. Lower works for Manitowoc crawler model 16000 are manufactured here.[14]
Shady Grove, Pennsylvania: Grove all-terrain, rough-terrain, truck cranes and industrial cranes; National Crane boom trucks; Shuttlelift Carrydeck cranes; Manitowoc crawler cranes.

Financial information

Year (2020) Net sales (in millions): $1.4 billion Adjusted EBITDA (in millions): $83.1 million Operating income / (loss) (in millions): $38.6 million Products/Services
1996[15] 220.8 22.6 Manitowoc, Manitex, Femco, West-Manitowoc
1997[16] 259.6 34.9 Manitowoc, Manitex, Femco, West-Manitowoc
1998[17] 339.1 48.1 Manitowoc, UTSC, Femco
1999[18] 389.5 64.8 Manitowoc, Manitex, Spyder, Pioneer, TailGator, Femco
2000[19] 376.3 62.9 Manitowoc, CraneCare, Femco
2001[20] 453.2 62.7 Manitowoc, Potain, CraneCare, Femco
2002[21] 681.0 55.2 Manitowoc, Potain, Grove, National, Manlift, CraneCare, Crane Credit
2003[22] 963.0 25.1 Manitowoc, Potain, Grove, National, Manlift, CraneCARE, CraneCREDIT
2004[23] 1,248.0 57.0 Manitowoc, Potain, Grove, National, Crane CARE,
2005[24] 1,628.0 115.5 Manitowoc Cranes, Potain, Grove, National, CraneCARE, CraneCREDIT
2006[25] 2,235.0 280.6 Manitowoc, Potain, Grove, National, Manitowoc CraneCARE, CraneCREDIT
2007[26] 3,246.0 470.5 Manitowoc, Potain, Grove, National, Shuttlelift, YardBoss, Manitowoc Crane Care,

References

  1. 1 2 3 4 The Manitowoc Company. (2002). Voyage of Vision. Afton, MN: Hakala Communications
  2. ↑ Cranes Today. "Buyout at Femco. "Cranes Today - Buyout at Femco". Archived from the original on 2011-07-08. Retrieved 2009-01-08.
  3. ↑ Versalift East. Manitowoc consolidates boom truck operations under the Manitowoc name 06 June 2006.
  4. ↑ Terex Connection in Manitowoc Boom Trucks deal Archived 2011-07-08 at the Wayback Machine
  5. ↑ "Manitowoc strengthens global presence: Manitowoc acquires France-based Potin S.A. and added four new lattice-boom cranes." Diesel Progress North America 1091-370X, Oct. 2001 v67 i10 p 54(2)
  6. ↑ "Manitowoc acquires Grove product line." Recycling Today Nov 2002 v40 i11 p20(1)
  7. ↑ "National Crane Corporation." Nebraska State Historical Society nebraskahistory.org[usurped]
  8. ↑ The Manitowoc Company. 2000 Annual Report. (PDF) The Manitowoc Company. Retrieved on 08 Jan. 2009
  9. ↑ "New China factory." Construction Contractor, March 7, 2005
  10. ↑ "Manitowoc forms joint venture with Chinese manufacturer to produce hydraulic cranes." The Associated Press March 11, 2008
  11. ↑ "Manitowoc to build crawler cranes in Europe." International Cranes and Transport June 2003 v11 i9 p9(1)
  12. ↑ Manitowoc Cranes. Expansion at Manitowoc's plant in Wilhelmshaven, Germany Archived 2008-11-13 at the Wayback Machine 03 Oct. 2008
  13. ↑ Manitowoc Cranes. Manitowoc opens expansions at Niella Tanaro, Italy Archived 2008-11-13 at the Wayback Machine 27 Oct. 2008
  14. ↑ "MCG's Port Washington gets $7.4-million addition" Western Builder Oct. 1, 2007 v97 i39 p59
  15. ↑ The Manitowoc Company. 1996 Annual Report(PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  16. ↑ The Manitowoc Company. 1997 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  17. ↑ The Manitowoc Company. 1998 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  18. ↑ The Manitowoc Company. 1999 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  19. ↑ The Manitowoc Company. 2000 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  20. ↑ The Manitowoc Company. 2001 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  21. ↑ The Manitowoc Company. 2002 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  22. ↑ The Manitowoc Company. 2003 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  23. ↑ The Manitowoc Company. 2004 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  24. ↑ The Manitowoc Company. 2005 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  25. ↑ The Manitowoc Company. 2006 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
  26. ↑ The Manitowoc Company. 2007 Annual Report (PDF) The Manitowoc Company. Retrieved 08 Jan. 2009
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