Manitowoc Cranes
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| Public | |
| Traded as | : MTW |
| Industry | Manufacturing |
| Headquarters | 2401 South 30 Street Manitowoc, Wisconsin United States |
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Number of locations
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Five regional headquarters, 14 manufacturing sites |
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Area served
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North America |
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Key people
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Barry Pennypacker (CEO) |
| Products | Mobile hydraulic cranes, Lattice-boom crawler cranes, Truck-mounted cranes, Tower cranes |
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Number of employees
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7,500 |
| Parent | Manitowoc Company |
| Website | www |
Manitowoc Cranes is a division of The Manitowoc Company, Inc in the United States. Manitowoc Cranes produces four brands of cranes: Grove, National Crane, Manitowoc, and Potain and has two service brands, Manitowoc Crane Care and Manitowoc Finance.
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.
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.
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.
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.
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.
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
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. In 2003, Manitowoc sold off the Manitowoc Boom Truck brand to Quantum Heavy Equipment, LLC.
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Wikipedia