Manitowoc Company president/CEO Terry Growcock told the company’s annual shareholders’ meeting last month that he expects group sales to be up from last year’s record $695m to $800m, beating his own targets by a year.
He set a new target of $1.3bn in sales by 2002. Half the growth is expected from acquisitions, which are expected in all areas, although there was more scope for acquisitions in the company’s food service division than in cranes, he said. Growth would also come from aggressive new product development, Growcock said. The company’s stock rose 32% in the first five months of the year.
