Manitowoc

Since 1902, the vision of Manitowoc’s founding fathers, set the course for establishing Manitowoc as a strong, respected global organization throughout the world. Today, our customer driven culture, The Manitowoc Way, promotes innovation and velocity to better compete in an ever changing world and we are poised for success in the crane industry for many years to come. Whether lifting solutions require crawler, boom, telescoping, or tower cranes, Manitowoc’s ingenuity will be there to Build Something Real for its customers, investors, employees, and partners.

CORPORATE OVERVIEW

The Manitowoc Company, Inc. (“Manitowoc” and the “Company”) 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 five 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 our Tower crane rental and aftermarket business in Europe

Build out our China and Belt & Road Tower crane business

Accelerate our new product development in All-terrain cranes

Expand our aftermarket activities in North America

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 customer connectivity). Growing this part of our business will provide us with more annuity-like revenue streams to lessen the impact of the crane market cyclicality.