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.
“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.