MUNICH, Germany, April 25 /PRNewswire-FirstCall/ — Manitowoc Crane Group, a business entity of The Manitowoc Company, Inc. (NYSE:MTW) , is introducing 11 new cranes at Bauma 2007, the world’s premier lifting and construction equipment exhibition. Highlighting these introductions were the GTK1100 and Model 14000, two of the 14 products that Manitowoc Crane Group is showcasing this year.
“These cranes truly exemplify our commitment to innovation and customer focus,” said Glen E. Tellock, president of Manitowoc Crane Group. “The GTK is the most innovative new product in the lifting industry in more than a decade. It not only combines elements of our crawler, tower, and mobile crane technologies, but it is the perfect solution for evolving market needs such as wind power installations.
“The Model 14000 crawler crane was developed in response to customer interest for a replacement of our flagship Model 4100W, which was Manitowoc’s most-popular crawler crane ever. Offering a 200 metric-ton capacity, the 14000 is in the ‘sweet spot’ of many of our customers’ needs. It also incorporates the latest in hydraulic technology and electronic controls,” Tellock explained.
Both cranes also offer exceptional mobility and fast erection. The GTK’s innovative design enables it to be shipped on just five trucks, and lift more than 70 tons to heights exceeding 400 feet within six hours of arriving on a job site. Traditional equipment providing similar lift capacities might require 24 hours of set-up time and 20 to 25 trucks for transport. Unlike its predecessor, the Model 14000 features Manitowoc’s FACT self-erect technology to greatly reduce the time and manpower needed for assembly and mobilization.
In addition to the GTK1100 and Model 14000, Manitowoc Crane Group unveiled several other models spanning multiple product categories:
All-terrain: Grove added three new products to its line-up of versatile, five-axle, all-terrain cranes. The three new models (the GMK5095, the GMK5110- 1, and the GMK5130-2), range in capacity from 100 to 130 metric tons, provide maximum tip heights of 272 to 312 feet, and incorporate the latest cab and control technologies. The Grove five-axle line also provides a Taxi/Maxi option that lets operators choose between quick mobility or maximum lift capabilities depending on specific job requirements.
Rough-terrain: Grove also introduced the new, 35 metric-ton Model RT540CE, a rough-terrain crane that features an automotive-style dashboard and electronic joystick controls. By replacing traditional hydraulic controls with electronics greatly reduces heat build-up in the operator’s cab and allows for more-precise load maneuvering. Built in Niella Tanaro, Italy, the RT540CE is European Union certified and is roadable between most job sites.
Tower: Potain introduced several new top-slewing tower cranes to its product array at Bauma, led by the MDT-218. This model is the fourth in its series of “topless” tower cranes which are becoming increasingly popular in urban and commercial applications. The MDT-218 is available in 8 and 10 metric-ton capacities, as well as two mast configurations which offer hook heights of 55 and 65 meters, plus up to 65 meters of horizontal reach. Potain also introduced two new self-erecting tower cranes, including the Igo T-70. Featuring a two-section, telescopic mast, the Igo T-70 provides a hook height of 105 feet, a maximum capacity of 4 metric tons, and up to 131 feet of horizontal reach.
“Bauma is our first opportunity for the lifting industry to see and test these new products. Customer interest and preliminary orders have been quite strong, which is a testament to our voice-of-the-customer product development programs,” Tellock said. “We believe that continued strong growth within the global construction markets will validate our investment in these and other new products.”
About The Manitowoc Company
The Manitowoc Company, Inc. is one of the world’s largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. As a leading manufacturer of ice-cube machines, ice/beverage dispensers, and commercial refrigeration equipment, the company offers the broadest line of cold-focused equipment in the foodservice industry. In addition, the company is a leading provider of shipbuilding, ship repair, and conversion services for government, military, and commercial customers throughout the U.S. maritime industry.
Any statements contained herein that are not historical facts are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Potential factors could cause actual results to differ materially from those expressed or implied by such statements. These statements and potential factors include, but are not limited to, those relating to:
— anticipated changes in revenue, margins, and costs,
— new crane and foodservice product introductions,
— successful and timely completion of facility expansions,
— foreign currency fluctuations,
— increased raw material prices, including steel prices,
— steel industry conditions,
— the risks associated with growth,
— geographic factors and political and economic risks,
— actions of company competitors,
— changes in economic or industry conditions generally or in the markets
served by our companies,
— work stoppages and labor negotiations,
— government approval and funding of projects,
— the ability of our customers to receive financing, and
— the ability to complete and appropriately integrate restructurings,
consolidations, acquisitions, divestitures, strategic alliances, and
Information on the potential factors that could affect the company’s actual results of operations is included in its filings with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for the fiscal year ended December 31, 2006.
First Call Analyst:
Source: The Manitowoc Company, Inc.