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News Release
January 4, 2007
Manitowoc Crane Group to purchase Carrydeck product line from Marine
Travelift, Inc.
STURGEON BAY, Wis.: Manitowoc Crane Group has agreed to purchase Marine
Travelift, Inc.’s Shuttlelift Carrydeck line of industrial cranes. Crane Group
and Marine Travelift executives said the move is beneficial for both companies.
Manitowoc
Crane Group’s industrial crane product line is sold under the name YardBoss,
which is a Grove brand. The YardBoss product line has been manufactured by
Shuttlelift under a supply agreement for the last two years. Over this same
time period, the two companies have continued to offer their industrial cranes
simultaneously to customers in this market.
“This agreement will
benefit the customers of both Shuttlelift’s Carrydeck products and Grove’s
YardBoss industrial cranes as the two leaders in this market come together,”
said John Wheeler, executive vice president for Manitowoc Crane Group
Americas. “Carrydeck customers will benefit from Grove’s 60 years of mobile
crane innovation and Manitowoc Crane Group will benefit from Shuttlelift’s
expertise in the industrial crane market.”
As a result of this
acquisition, Manitowoc Crane Group will improve its position as the industry
leader in the industrial crane market as well as further enhance its position
as a leader in the mobile crane market offering a more complete product range.
The terms of the deal were not disclosed.
Manitowoc Crane Group
intends to continue selling the Shuttlelift Carrydeck crane line through its
existing dealers, while also selling its YardBoss cranes line through the
Grove dealer network, said Dave Birkhauser, senior vice president, sales for
MCG’s Americas region.
“We’ll continue serving both dealer
organizations as we are now. It should be a seamless transition,” Birkhauser
said. “As both organizations have historically focused on different aspects
within the industrial crane market, we foresee little change,” he said.
“Because bringing together the two market leaders in the industrial cranes
will ultimately make us a much stronger organization, we see a bright future
for our products and our customers.”
Marine Travelift is
selling the Carrydeck line as a move to further strengthen the company. They
continue to experience significant growth in their rubber-tired gantry crane
business, as well as in their Marine Travelift mobile boat hoist product line.
“We
realized that our Gantry business could be much larger in both the industrial
markets and marine markets than the Carrydeck business ever could be, so we
made a shift to dedicate our internal resources to grow the business we felt
would take us further,” says Stephan Pfeifer, CEO of Shuttlelift and Marine
Travelift.
Marine Travelift has agreed to continue manufacturing the
Carrydeck and YardBoss cranes through the end of 2007 under a mutually
beneficial arrangement. Manitowoc Crane Group will assume responsibility for
manufacturing the product beginning in 2008.
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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For More Information Contact:
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| Larry Bryce | |
| Vice President, Business Development | |
| Manitowoc Crane Group | |
| larry.bryce@manitowoc.com | |
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