MANITOWOC — The Manitowoc Company, Inc. shared its plans
Thursday to separate its cranes and food service
divisions in order for each division to reach its full
potential, according to a company announcement.
“This decision was reached as part of our regular
evaluation and exploration of opportunities to optimize
the company’s performance and create value for
shareholders, and included a thorough review of the
current and projected operating environments for the two
segments,” said Glen E. Tellock, Manitowoc’s chairman
and chief executive officer, in a statement.
On Thursday, the company also reported full-year sales
of $3.9 billion, a 4 percent decrease from $4 billion in
2013. Adjusted earnings from continuing operations in
2014 were $159.2 million, or $1.16 per share, versus
adjusted earnings from continuing operations of $195.9
million, or $1.45 per share in 2013.
Founded in 1902, The Manitowoc Company, Inc. is a
multi-industry, capital goods manufacturer with 92
manufacturing, distribution, and service facilities in
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