Manitowoc Split Official

15 February 2016

The Manitowoc Co. Inc. announced that its board of directors has approved the separation of its Foodservice segment, which will be spun off as Manitowoc Foodservice, Inc., through a pro rata distribution of all the shares of the common stock of Manitowoc Foodservice to Manitowoc shareholders.

The distribution of Manitowoc Foodservice common stock will complete the separation of Manitowoc Foodservice from Manitowoc. After the distribution, Manitowoc Foodservice will be an independent, publicly-owned company, and Manitowoc will not own any shares of Manitowoc Foodservice common stock.

“With the operational preparation complete, the board of directors' authorization of the spin off of Manitowoc Foodservice marks the final phase of a year-long process to create two, industry-leading, public companies,” said Kenneth W. Krueger, Manitowoc’s chairman and interim chief executive officer.  “Both Cranes and Foodservice are well positioned for sustainable, long-term growth and value creation, and this separation will facilitate each to capitalize on the opportunities in their respective markets,”

Manitowoc Foodservice will be an independent company and its stock will begin trading under the ticker symbol MFS on the NYSE on March 4, 2016. Additionally, The Manitowoc Company, Inc. will be a dedicated crane company, and will continue to trade on the NYSE under the ticker symbol MTW.

STAY CONNECTED



Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

POWER SOURCING GUIDE

The trusted reference and buyer’s guide for 83 years

The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.

Visit Now

CONNECT WITH THE TEAM
Becky Schultz Vice President of Content Tel: +1 480 408 9774 E-mail: [email protected]
Julian Buckley Editor Tel: +44 (0) 1892 784088 E-mail: [email protected]
Chad Elmore Managing Editor Tel: +1 262 754 4114 E-mail: [email protected]
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA