Maintowoc sales hit all time high
15 April 2008
Net sales at the Manitowoc Company in 2006 were a record US$2.9 billion, up more than 30% on 2005. Cranes, from the Manitowoc Crane Group (MCG), were by far the largest contributor accounting for $2.2 billion of the total net sales.
Results for the most recent quarter (Q4 2006), show a 32% increase in the Manitowoc Company's net sales to $775.2 million from $589.3 million during the fourth quarter of 2005.
An even bigger increase was in the fourth quarter 2006 net sales for the MCG segment, which increased 38% to $604.6 million, from $438.9 million in the fourth quarter of 2005.
Operating earnings at MCG for the fourth quarter of 2006 increased 159% to a record $77.6 million, from $30.0 million in the same period last year.
The order backlog was $1.5 billion at year-end, 10% higher than at the end of September 2006, and 77% higher than at the end of 2005.
The crane segment will be the primary growth driver in 2007, where revenue growth of more than 20% in 2007 is forecast, according to a company statement.
“The Crane segment continues to drive outstanding financial performance through its global positioning and strong product line,†Terry Growcock, Manitowoc chairman and chief executive officer, said.
CONNECT WITH THE TEAM


