News Release

November 23, 2005

CraneCREDIT Surpasses the $250 million Milestone

From left to right: Jeff Visscher, Bill Maguire , and Dave Pengelly, all of CraneCREDIT; Larry “Cowboy” Proemsey, Skyview; David Hull and Jay Buechler, both of Manitowoc; Tom Farley, Skyview, and Dave Hoeft and Ray Jost, both of Kirby-Smith.

On Sept. 14th, 2005, CraneCREDIT, the private-label finance company established between De Lage Landen Financial Services and the Manitowoc Crane Group surpassed the milestone of $250 million of business booked.

“This milestone represents the commitment and dedication of both De Lage Landen and Manitowoc to this successful partnership. We are very proud to have hit the $250 million funded mark, but we are more proud that we have provided such a valuable service to so many of our customers,” said Jay Buechler, North America customer finance manager.

CraneCREDIT specializes in providing Manitowoc crane buyers with a variety of options to finance or lease any new or used Manitowoc product with market leading rates, residuals and service levels. Manitowoc is a world leader in the crane market with product offerings in all the major segments of the industry. Manitowoc’s crane products are marketed under the following brand names: Manitowoc, Potain, Grove, and National.

With the recent signing of extension program agreements in New Zealand and Australia, and the existing relationship in the United States and Canada with potential expansion into other regions, CraneCREDIT has rapidly become the premier financier of Manitowoc Crane Group products worldwide.

“It is a testament to the team that the program has hit the $250 million mark so quickly. This really shows the value that CraneCREDIT customers place on easy and flexible financing,” said Dave Pengelly, CraneCREDIT program manager.

A National Crane model 18127 sold by Kirby Smith Machinery, Inc. St. Louis, Mo. and purchased by Skyview Construction and Engineering Inc. is the crane that took CraneCREDIT over the $250 million benchmark in the US.

Skyview, owned and operated by Larry “Cowboy” Proemsey, is a hoisting, rigging, and erecting company out of Labadie, Mo. According to Cowboy, the St. Louis area lifting business is booming, “Business is great right now. I could come in at seven in the morning and work till ten at night. The jobs are finding us, I can’t tell you the last time I had to look for work.” The demand for Skyview’s services is what drove Cowboy to acquire his second National Crane and CraneCREDIT helped him do it with low rates and flexibility.  

“Since CraneCREDIT is Manitowoc’s financing service, it made sense for me to use them for financing the 18127. I was impressed with the individual attention and flexibility they showed me. Jeff Visscher, CraneCREDIT Sales, and Bill Maguire, my CraneCREDIT Credit Officer, worked with Kirby Smith and myself to make sure that we got the crane I wanted with the right pricing and structure. They took the time to establish a personal relationship and got to know my business. I never had to worry about any issues – CraneCREDIT’s level of attention made the process run very smoothly, ” Proemsey said.

Kirby Smith Machinery St. Louis Branch Manager Ray Jost, agreed that CraneCREDIT works hard to build relationships with its customers.

“The deal that we just completed with CraneCREDIT and Cowboy is just one example of many where CraneCREDIT has proven its value to us and our customers. For the dealer, CraneCREDIT isn’t just the best way for our customers to finance a Manitowoc crane, but it’s also a valuable tool to improve relationships and enhance business opportunities with our customers," Jost said. "CraneCREDIT allows the dealer to provide an added service; helping our customers acquire the equipment they need while managing their finances successfully. That value is extremely important in a relationship based business like ours.”

The 18127 joins a National Crane model 18142 that Skyview acquired in 2001, and is the fourth Manitowoc Crane Group crane in Skyview’s fleet. 

“We have four cranes now, but the National’s are my favorite, in fact I’ve added my own personal touches to the 18142," Proemsey said. "I added a rear view video camera, extra lights, painted flames, train horns and chrome everywhere. I even added a chrome bull’s horns grill ornament as an ode to my rodeo days. The 18127 is next.”