manitowoc company inc (MTW) Key Developments
Alimak Group Co-Develops Tower Crane Elevators Together with the Manitowoc Company, Inc
Jun 23 15
Alimak Group has signed an agreement with Manitowoc Company Inc. regarding joint development and production of specialized internal tower crane elevators. The agreement covers co-development and distribution of tower crane elevators. Alimak will supply its standardized external operator elevators adapted to fit the Manitowoc range of cranes that will be offered in both Alimak's and Manitowo's respective global sales and distribution networks. In addition, Alimak has signed an exclusive distribution agreement with Manitowoc regarding an internal tower crane elevator, attached within the crane´s mast, which will be exclusively sold and distributed by Manitowoc.
The Manitowoc Company, Inc. Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-04-2015
Jun 1 15
The Manitowoc Company, Inc. Presents at Deutsche Bank 6th Annual Global Industrials and Basic Materials Conference 2015, Jun-04-2015 . Venue: The Westin Chicago River North, 320 North Dearborn Street, Chicago, IL 60654, United States. Speakers: Carl J. Laurino, Chief Financial Officer and Senior Vice President.
James L. Packard Retires as Director of The Manitowoc Company, Inc
May 7 15
On May 5, 2015, James L. Packard retired as a director of The Manitowoc Company, Inc. in accordance with the company's Corporate Governance Guidelines, which require a director to resign from the Board of Directors at the first Annual Meeting of Shareholders held after reaching age 72.
The Manitowoc Company Seeks Acquisitions
Apr 30 15
The Manitowoc Company, Inc. (NYSE:MTW) is looking for acquisitions. Glen Tellock, Chairman and Chief Executive Officer of The Manitowoc Company states, "Yet at the same time if you want to do things within that industry, it is a little more consolidated industry but there's some pretty good opportunities to focus and look at whether it's acquisitions, mergers, or anything else, you have the opportunity to use that capital structure in and of itself to make those decisions."
The Manitowoc Company, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reaffirms Earnings Guidance for 2015
Apr 29 15
The Manitowoc Company, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For first-quarter of 2015, the company reported sales of $752.1 million, an 11.5% decrease from $850.0 million in the first quarter of 2014. On a GAAP basis, the company reported a net loss of $8.4 million, or $0.06 per diluted share, in the first-quarter 2015 versus a net loss of $8.8 million, or $0.06 per diluted share, in the first quarter of 2014. Excluding special items, the adjusted loss from continuing operations was $6.3 million, or $0.05 per diluted share, in the first quarter of 2015, versus adjusted earnings from continuing operations of $23.7 million, or $0.17 per diluted share, in the first quarter of 2014. Cash flow from operating activities of continuing operations in the first quarter of 2015 was a use of $135.6 million, driven by seasonal working capital requirements that were partially offset by improved inventory levels within the crane business compared to $264.6 million a year ago. First-quarter capital expenditures totaled $11.7 million compared to $16.7 million a year ago. Operating earnings were $12.7 million, loss from continuing operations before taxes on income were $9.5 million against operating earnings of $53.6 million and profit from continuing operations before taxes on income of $22.3 million respectively a year ago. Adjusted EBITDA was $394.1 million.
The company is reaffirming its full-year guidance for 2015. For the full-year 2015, the company expects capital expenditures to be approximately $85 million, effective tax rate to be mid-to-high 20% range, and depreciation & amortization - approximately $110 million.