29.06.2006

Manitowoc increase earnings estimates

Manitowoc has increased its second quarter and full year profits forecasts, upgrading its top end earnings expectations for the full year from $2.50 to $2.60 a share. An increase of approximately 16 percent on its initial expectations.

"Our global leadership in the lifting industry continues to drive Manitowoc's strong financial performance," said Terry D. Growcock, chairman and chief executive officer.

"As we enter the summer construction season -- traditionally the period of greatest lifting activity -- global demand for our entire product line is exceeding our own expectations, and we expect that demand to remain solid throughout this current construction cycle. In addition to our Crane segment's strong performance, our Foodservice and Marine segments continue to contribute and perform as planned."