For Immediate Release

July 6, 2005

Manitowoc Crane Group (UK) and Bank of Scotland Corporate launch partnership

Management from Manitowoc Crane Group and Bank of Scotland Corporate at a signing ceremony to celebrate the launch of a new funding initiative from the two companies. Seated (left to right) are: Steve Thompson, Grove Europe finance director; and David Taylor, Bank of Scotland Corporate head of direct business – asset finance. Standing (left to right) are: Simon Burns, director, Bank of Scotland Corporate – asset finance, construction division; Steve Barnett, managing director – sales/operations Manitowoc Crane Group (UK); Jean-Francois Amet, trade finance director – EMEA, Manitowoc Crane Group; Karl Kirkpatrick, associate director, Bank of Scotland Corporate – asset finance, construction division.

An exciting new alliance between Manitowoc Crane Group (UK) and Bank of Scotland Corporate’s asset finance division has been formed to provide specialist funding to existing customers and prospects for Manitowoc Crane Group products – including Grove mobile telescopic cranes, Potain tower cranes and Manitowoc crawler cranes.

The alliance, which was officially launched on 30th June, means that buyers of Grove, Potain and Manitowoc cranes will have direct access to the expertise of the bank’s construction funding specialists for finance.

Steve Barnett, managing director - sales/operations for Manitowoc Crane Group (UK) said at the official signing ceremony to launch the new initiative.

“As specialist lenders with many years of unrivalled industry expertise, we feel that the Bank of Scotland Corporate construction team’s knowledge base and range of funding solutions are second to none and this, in conjunction with our own specialist capabilities within the lifting solutions industry, means that we can be confident in bringing a complete package to our customers and prospects in the UK”.

The association will bring funding to the UK marketplace and a ‘total product-funding’ solution to end-users and rental companies alike. MCG, whose sales and operations facility in the UK is based in Cowley, Middlesex, manufactures a full range of crane products – Grove GMK all-terrain and RT rough-terrain mobile telescopic cranes, Potain tower cranes, and Manitowoc crawler cranes.

Karl Kirkpatrick, associate director of asset finance at Bank of Scotland Corporate, added. “At Bank of Scotland Corporate we recognize the importance of tailoring our offering to facilitate our clients’ demands. MCG needed a focused product to assist their clients – we were able to provide that and look forward to working with them in the future.”

Manitowoc Crane Group has a growing global presence and has built a reputation as a manufacturer of high quality crane products. It holds a premier position in the world market and manufactures, markets and services its crane products at multiple locations on five continents.

Bank of Scotland Corporate’s asset finance division is a major provider of asset finance to businesses throughout the UK and offers various finance packages to aid the funding of plant and equipment. 

High Resolution Photograph (280 KB)

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 for 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.

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