Total crane sales of The Manitowoc Company rose 12% in 1999 to $370.7m net. Operating earnings rose 35% to $64.8m.
The figures include sales by boom truck manufacturers Manitex and (for the first time) USTC as well as the lattice boom crane division Manitowoc Engineering. But if the sales of USTC are stripped out, in the region of $30m prior to acquisition, then sales rose only around 3% in real terms.
More positively, the company claims to have cut lead times on more popular models by 40%, and the order book at year end stood at $136m.
“High rental utilisation rates, an active replacement cycle, and much improved prospects in the energy and overseas markets point to continued growth in 2000,” said president and CEO Terry Growcock.
