The Manitowoc Company Statement about Its Business in Russia
01 Abril 2022 - 5:05PM
Business Wire
The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or
“Manitowoc”), a leading global manufacturer of cranes and lifting
solutions, announced today that it has been curtailing its
operations in Russia since the beginning of the conflict in Ukraine
and stopped taking new crane orders. With roughly 20 local
employees, sales to Russia were less than two percent of total
sales in 2021. Aaron H. Ravenscroft, President and Chief Executive
Officer of The Manitowoc Company, Inc. commented, “While doing our
best to support our local team members, we have and will continue
to comply with all sanctions and conduct our business in accordance
with all applicable laws. The safety and well-being of our
employees and their families are our top priorities.”
About The Manitowoc Company, Inc.
The Manitowoc Company, Inc. was founded in 1902 and has over a
119-year tradition of providing high-quality, customer-focused
products and support services to its markets. Manitowoc is one of
the world's leading providers of engineered lifting solutions.
Manitowoc, through its wholly-owned subsidiaries, designs,
manufactures, markets, and supports comprehensive product lines of
mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks,
and tower cranes under the Aspen Equipment, Grove, Manitowoc, MGX
Equipment Services, National Crane, Potain and Shuttlelift brand
names.
Forward-looking Statements
This press release includes “forward-looking statements”
intended to qualify for the safe harbor from liability under the
Private Securities Litigation Reform Act of 1995. Any statements
contained in this press release that are not historical facts are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are
based on the current expectations of the management of the Company
and are subject to uncertainty and changes in circumstances.
Forward-looking statements include, without limitation, statements
typically containing words such as “intends,” “expects,”
“anticipates,” “targets,” “estimates,” and words of similar import.
By their nature, forward-looking statements are not guarantees of
future performance or results and involve risks and uncertainties
because they relate to events and depend on circumstances that will
occur in the future. There are a number of factors that could cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements. Factors
that could cause actual results and developments to differ
materially include, among others:
- The negative impacts COVID-19 has had and will continue to have
on Manitowoc’s business, financial condition, cash flows, results
of operations and supply chain, as well as customer demand
(including future uncertain impacts);
- actions of competitors;
- changes in raw material and commodity prices;
- changes in economic or industry conditions generally or in the
markets served by Manitowoc;
- unanticipated changes in customer demand, including changes in
global demand for high-capacity lifting equipment, changes in
demand for lifting equipment in emerging economies and changes in
demand for used lifting equipment;
- failure to comply with regulatory requirements related to the
products the Company sells;
- the ability to capitalize on key strategic opportunities and
the ability to implement Manitowoc’s long-term initiatives;
- the ability to complete and appropriately integrate
acquisitions, strategic alliances, joint ventures or other
significant transactions;
- unanticipated changes in revenues, margins and costs;
- geographic factors and political and economic conditions and
risks;
- the ability to increase operational efficiencies across
Manitowoc and to capitalize on those efficiencies;
- risks and factors detailed in Manitowoc's 2021 Annual Report on
Form 10-K and its other filings with the United States Securities
and Exchange Commission.
Manitowoc undertakes no obligation to update or revise
forward-looking statements, whether as a result of new information,
future events, or otherwise. Forward-looking statements only speak
as of the date on which they are made. Information on the potential
factors that could affect the Company's actual results of
operations is included in its filings with the Securities and
Exchange Commission, including but not limited to its Annual
Reports on Form 10-K for the fiscal years ended December 31,
2021.
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version on businesswire.com: https://www.businesswire.com/news/home/20220401005444/en/
Ion Warner VP, Marketing and Investor Relations +1
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Manitowoc (NYSE:MTW)
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