Manitowoc Crane Shipments Delayed into First Quarter

December 9, 2011–Manitowoc Crane, Manitowoc, Wis., said the shipment of some of its crane products will be delayed into the first quarter of next year as a result of supplier delivery issues and a machinists’ union strike that began November 14, according to the Journal Sentinel.

After nearly 200 members of the International Association of Machinists went on strike after rejecting a proposed four-year labor contract, the company laid off as many as 156 boilermakers.

Although 12 boilermakers were recalled December 7, and the other 25 will return December 12, negotiations with a federal mediator have not made significant progress. As a result, Manitowoc expects fourth-quarter crane sales and operating earnings to be negatively affected by approximately $35 million and $10 million, respectively.

Additionally, Manitowoc said that current conditions will result in the company's debt reduction to be near or below the low end of its previously announced $150 million to $200 million target range.