Q1 sales increase for Manitowoc

The Manitowoc Company today reported sales of $898 million for the first quarter of 2013, an increase of 5.4% over the same period in 2012.

The multinational, which operates divisions focusing on construction cranes and foodservice equipment, announced that its foodservice segment sales topped $350 million, up from $344 million in the first quarter of 2012.

The increase was driven by sales of new products and balanced growth across all geographies.

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“The segment posted another quarter of sales growth driven by successes in various product categories, including our Convotherm ovens and Indigo ice machines, as well as the roll-out of our blended ice machine technology in Europe. While certain customers deferred their capital spending during the first quarter, we remain confident that our long-term initiatives should drive revenue growth and margin expansion within Foodservice, highlighted by our ongoing manufacturing and new product development strategies,” said Glen Tellock, Manitowoc’s chairman and chief executive officer.

 

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