The Manitowoc Company and Kobelco Construction Machinery End OEM Supply Agreement
Manitowoc Company, Inc. (The) (MTW)
Last manitowoc company, inc. (the) earnings: 2/6 04:31 pm
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Source: Business Wire
MILWAUKEE--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW), a leading global manufacturer of cranes and lifting solutions, and Kobelco Construction Machinery Co., Ltd. of Tokyo, Japan, one of Japan’s largest manufacturers of construction equipment, will not renew their OEM supply agreement, under which Kobelco supplies Manitowoc-branded lattice-boom crawler crane models with lift capacities under 150 tons to the worldwide Manitowoc distribution network, and Manitowoc supplies Kobelco-branded all-terrain crane models for marketing in Japan. The global alliance began in November 2003 and will end on November 9, 2018. Kobelco will continue to support Manitowoc and its customers, and Manitowoc will continue to support Kobelco and its customers, with service parts for a period of ten (10) years. Barry Pennypacker, President and CEO of The Manitowoc Company, said, “As a world leader in lattice-boom c
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