MANITOWOC, Wis.--(BUSINESS WIRE)--The Manitowoc Company, Inc. (NYSE: MTW), a leading global manufacturer of cranes and lifting solutions, today announced it will relocate its corporate headquarters from Manitowoc, Wisconsin to Milwaukee, Wisconsin.
Manitowoc will lease approximately 16,000-square feet in One Park Place in the Park Plaza office park. Manitowoc has already started to transition headquarters employees with the relocation expected to be completed by the end of the first quarter, 2018 pending completion of the build-out.
“Manitowoc’s origin as a Wisconsin based manufacturer dates to 1902. The state has an impressive roster of global manufacturing businesses with a top-level talent pool, and we are excited about the move of our corporate headquarters. We believe this location will strategically create easier accessibility for our customers, shareholders and employees,” said Barry Pennypacker, President and CEO, The Manitowoc Company.
Commensurate with the relocation to Milwaukee, the Company has agreed to the sale of its former headquarters at 2400 S. 44th Street in Manitowoc. The sale to Manitowoc-based Investors Community Bank is expected to be complete by the end of the first quarter, 2018.
About The Manitowoc Company, Inc.
Founded in 1902, The Manitowoc Company, Inc. is a leading global manufacturer of cranes and lifting solutions with manufacturing, distribution, and service facilities in 20 countries. Manitowoc is recognized as one of the premier innovators and providers of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry, which are complemented by a slate of industry-leading aftermarket product support services. In 2016, Manitowoc’s net sales totaled $1.6 billion, with over half generated outside the United States.