The Manitowoc Co. Inc. operates in two very different business worlds. The first involves cranes, hoists and excavators. The second, hot and cold commercial food service equipment. The company actually started by building and repairing ships before shifting to its present-day businesses. Manitowoc’s cranes, crane attachments and hoists are used in construction, mining, petrochemical, utilities and energy projects. Restaurants, convenience stores, hotels, institutions and commissaries are the customers for its food and beverage equipment. The theory behind the unusual diversification is that the food service side can help the company compensate for slowdowns in the construction sector.
Manitowoc, founded in 1902, is headquartered in Manitowoc, Wis., on the shore of Lake Michigan. It operates more than 100 manufacturing, distribution and service facilities in 26 countries and employs approximately 13,000 people. Last year’s revenues of $3.7 billion earned it the No. 608 ranking on the Fortune 1,000.
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