Crane Demand “Lifts” Manitowoc’s Potential
On Monday (September 10th), Manitowoc’s Chairman and former CEO Terry D. Growcock gave a wonderfully bullish presentation on global construction and infrastructure growth. I’ve been meaning to discuss Manitowoc for some time after I started a position in it a couple of months ago, but Mr. Growcock (obviously) does a much better job of telling their story so I’ll try to follow his lead here. For those who don’t know Manitowoc, the business breaks down as follows: Manitowoc is primarily a lifts play (big machinery such as cranes, booms, and lifts, often attached to trucks) with a smaller business in food services (refrigerators, soda dispensers, etc) and a marine business (building and repairing military vessels and commercial transport vessels for use on the Great Lakes and St. Lawrence Seaways). Read the rest of this entry »
