Latest news from Heavy Lift & Project Forwarding International Magazine

Manitowoc sees crane sales slip

May 2 - Manitowoc Company reported Q1 2014 sales of USD850 million, down 5 percent year-on-year over Q1 2013.

The Manitowoc Cranes division saw its sales decrease by 14.2 percent, although this was offset by a strong quarter from its food service division, which increased sales by 14.2 percent.

First-quarter 2014 net sales in the company's crane division totalled USD466.7 million, down from USD544.0 million in the first quarter of 2013. The decline resulted from the lower level of backlog at the start of the year coupled with some customer-related project delays, says Manitowoc. Sales in the first quarter of 2014 were driven primarily by activity in the Americas region, as well as ongoing growth with tower cranes in the Middle East.   

Crane segment operating earnings for Q1 2014 amounted to USD22.6 million, down from USD34.9 million in the same period of last year. This resulted in an operating margin of 4.8 percent for the first quarter of 2014 versus 6.4 percent for the first quarter of 2013. First-quarter 2014 margins were affected by lower sales volume that was only partially offset by ongoing operational efficiencies, said the company.

"We remain encouraged by the opportunities for our Crane segment, as our exhibit at ConExpo was met with tremendous success and once again demonstrated the importance of innovation to our customers and the construction industry," said Glen E. Tellock, Manitowoc's chairman and ceo.

"The introduction of our patented variable position counterweight crawler crane technology drove order intake to its highest level since before the recession, further supporting our belief that the market is beginning to rebound. While we do not believe the market is robust given uneven demand in some product lines and regions, we will maintain our focus on driving growth and enhancing our profitability in this segment," he added.

 

 

www.manitowoc.com

Heavy Lift | News

ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 101
Ruud Gullit revealed as guest speaker at Heavy Lift Awards thumbnail image

Ruud Gullit revealed as guest speaker at Heavy Lift Awards

September 17 - HLPFI can exclusively reveal that Ruud Gullit - Ballon d'Or winner and former AC Milan, PSV, Chelsea, Feyenoord, and the Netherlands international football icon - will be kickstarting the inaugural Heavy Lift Awards 2019 ceremony.
Views: 302
Shelala joins ALG board thumbnail image

Shelala joins ALG board

September 17 - Compass Forwarding’s Robert Shelala has joined the board of Aerospace Logistics Group (ALG), a network of companies that specialise in the movement of aircraft parts and components.
Views: 255

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.