Manitowoc and Kobelco Extend Alliance to Europe
March 25, 2005 -- The Manitowoc Co.,
Beginning in the third quarter of 2005, Kobelco will manufacture cranes under 110 metric tons (121 US tons) for the European marketplace. All models will be branded as Manitowoc cranes and will be sold and supported under Manitowoc's existing distribution network. Kobelco will continue to sell and support its current crawler crane product line under their European distribution system.
This new supply agreement complements a series of previously announced agreements between the two companies. Under this business relationship, Kobelco supplies four models of lattice-boom crawler cranes ranging between 45 and 108 metric tons (50 and 120 US tons) for distribution in North America under the Manitowoc brand. The crawler crane agreement began in November 2003 and will go until 2008. The other part of the OEM contract calls for Manitowoc to supply all-terrain cranes ranging from 100 to 450 metric tons (130 to 550 US tons) for distribution in Japan under the Kobelco brand. This agreement was signed in February 2004 and will extend until 2009.
