THE MANITOWOC COMPANY, INC.

The Manitowoc Company (NYSE: MTW) is a $2.9-billion, multi-industry, capital goods manu-facturer that enjoys market-leading positions in each of its business segments: Cranes and related products, Foodservice equipment, and Marine operations. 

Manitowoc’s Market Leadership

♦ Cranes – Manitowoc is a world leader in lifting solutions for the global construction industry.  Manitowoc holds the #1 market-share position in high-capacity lattice-boom crawler cranes, top-slewing and self-erecting tower cranes, mobile telescopic cranes, and boom trucks. In 2006, the Crane segment generated 76% of Manitowoc’s consolidated revenue.

♦ Foodservice Equipment – Manitowoc is the #1 producer of cold-focused equipment for the foodservice industry. This includes commercial ice-cube machines and walk-in refrigerator/freezers for restaurants, hotels, convenience stores, and institutional foodservice providers. Manitowoc is also one of the leading manufacturers of ice/beverage dispensers and    related equipment for the bottling and soft-drink industry. The Foodservice segment generated 14% of Manitowoc’s revenue in 2006.   

♦ Marine Operations – Manitowoc is the #1 provider of shipbuilding and ship-repair services on the U.S. Great Lakes. Our yards are ideally suited to build the commercial, military, and government vessels that operate in U.S. waters. In 2006, the Marine segment produced 10% of Manitowoc’s revenue in 2005.

Solid Financial Results Boost MTW’s Share Price & Volume

Manitowocposted its 12th consecutive year of record revenues in 2006, along with strong earnings, excellent cash generation, and continued growth in shareholder value. For the full-year, net sales increased 30% to $2.9 billion; net earnings grew nearly 148% to $2.65 per diluted share; while EVA improved by $100 million. Manitowoc also generated $294 million in cash flow from continuing operations, which enabled it to achieve a debt-to-capital ratio of 25.7%.  As a result of Manitowoc’s strong financial performance during 2006, the company’s stock set new records for share price and trading volume. Shareholders were also rewarded with a 2-for-1 stock split during 2006, which marked our fourth stock split in the past decade. 

Vision 2012 – Manitowoc’s Strategy for Continued Success

The Manitowoc Company’s diversified business model, coupled with its market leadership and geographic diversity, create a solid platform for continued growth. Manitowoc is positioned to excel by focusing on its Vision 2012 strategic imperatives:

♦ Growth                      ♦ Excellence in Operations

♦ Innovation                  ♦ World-class Aftermarket Service & Support

♦ Customer Focus         ♦ People & Organizational Development

                              ♦ Value Creation

Manitowoc’s growth initiatives will enable us to outperform our competitors and to create additional value for our shareholders. Our focus on new-product development is enhanced by an equally aggressive commitment to achieve operational excellence in each of our businesses. Attracting and developing a highly skilled workforce will enable Manitowoc to produce consistently favorable results, while positioning each of our businesses to excel in a global economy and a diverse slate of end markets.