Latest news from Heavy Lift & Project Forwarding International Magazine

Crane sales slide at Manitowoc

February 3 - Manitowoc's cranes business has posted an 18.1 percent year-on-year decline in net sales for the fourth quarter of 2015.

Net sales in the cranes business stood at USD543.1 million in the fourth quarter of 2015, compared with USD663.2 million in the same period of 2014.

Crane operating earnings for the fourth quarter of 2015 totalled USD24.1 million, down from USD45.3 million in the same period last year.

For the full year, revenue in Manitowoc's cranes segment declined 19.1 percent to USD1.9 billion, and operating earnings declined to USD64.3 million, compared with USD163.9 million recorded in 2014.

Manitowoc attributed the decline to continuing weakness in rough-terrain cranes and boom trucks due to declining oil prices and its impact across energy-related end markets.

However, said the manufacturer, this decline was partially offset by strength in crawler cranes driven by accelerating shipments of the company's VPC technology.

"Our cranes business performed as expected during the fourth quarter," said Manitowoc chairman and interim ceo, Kenneth W. Krueger. "While orders improved sequentially from the third quarter, sales continue to be impacted by tepid customer demand. However, the benefits of cost control actions are beginning to take hold to improve overall profitability."

Barry L. Pennypacker, president and ceo of Manitowoc Cranes, added: "During the quarter, we saw pockets of better demand within our all-terrain category fueled by our new five-axle GMK5250L. However, the overall business remains challenged by an uncertain macro-economic environment."

In light of these circumstances, Manitowoc Cranes expects revenue for the full-year 2016 to remain flat.

"The full-year 2016 net sales outlook for Manitowoc Cranes assumes no improvement in the global economic backdrop, but modest stabilisation in demand," added Pennypacker.

 

 

www.manitowoccranes.com

Heavy Lift | News

Mammoet replaces converter thumbnail image

Mammoet replaces converter

September 20 - Mammoet has successfully replaced a 750-ton (680-tonne) converter vessel at a spent acid regeneration plant on the US Gulf Coast.
Views: 228
Demag delivers for Wiesbauer thumbnail image

Demag delivers for Wiesbauer

September 20 - Germany-based crane service provider Wiesbauer has added a Demag AC 300-6 all-terrain crane to its fleet.
Views: 188
Straightpoint tests ringer crane capacity thumbnail image

Straightpoint tests ringer crane capacity

September 19 - Malaysia’s Goforth called on Sarsco Lifting Technical Services to witness the load test of a ringer crane using a Straightpoint load cell and a wireless 150-tonne capacity Radiolink.
Views: 389
Lovemore relocates trailers in South Africa thumbnail image

Lovemore relocates trailers in South Africa

September 18 - South Africa-based heavy haulage and rigging specialist Lovemore Bros has relocated a number of specialised abnormal trailers to Johannesburg, Gauteng.
Views: 521

Heavy Lift Across The World

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