30.04.2007

Manitowoc crane up 43%

Manitowoc crane has reported its first quarter results for 2007, they show a 43 percent increase in revenues to, $682.8 million, a new company record.,

Operating income for the first quarter of 2007 increased 88 percent to a record $96.2 million, from $51.2 million in the same period last year.

The crane groups backlog at the end of March was $1.9 billion, an increase of 24 percent on December 2006 and up by more than $900 million, or 92 percent on March 31, 2006.

"Our outstanding portfolio of products was showcased for the entire lifting industry at last week's Bauma show in Munich, and the response was outstanding," said Terry Growcock chairman and CEO.

"The revolutionary GTK1100 was the hit of the show. Combining the technologies of crawler, tower, and hydraulic cranes, it is a product that few other than Manitowoc could have brought to the market. Interest and orders in the GTK and the 10 other new crane models on display should help drive continued strong performance for the rest of 2007 and well into 2008."