“The value of the globalization of our crane business was particularly evident during the second quarter as international activity generated strong sales and earnings growth,” said Glen E. Tellock, The Manitowoc Company president and chief executive officer.
The company said that it faced a variety of challenges in the second quarter, including unprecedented increases in steel, copper, and other materials, coupled with rising transportation and energy costs. Tellock noted that the company is closely monitoring and managing the impact of higher steel and commodity costs across each of its businesses.
Tellock said: “The company continues to see brisk global demand for its mobile telescopic, crawler, and high-capacity tower cranes; however, we are noticing slower demand for lower capacity tower cranes in western Europe.”
