Manitowoc

THE MANITOWOC COMPANY PROUD PARTNER TO MANITOWOC FOR OVER 70 YEARS AxleTech International has a legacy dating back over 100 years. Our expertise sets us apart - from concept to production and after sales service, our products have earned an enduring reputation for quality and performance. For more information, email us at: sales@axletech.com www.axletech.com Visit AxleTech International on social media: 717.262.2080 • 866.966.4562 www.gdcITsolutions.com Empowering Business with Technology Solutions to Increase Employee Productivity, Maximize Investments and Improve Operational Efficiency Across the Customer Value Chain • Web & E-Commerce Applications • Mobile App Development • Data Warehousing & System Integration • Business Intelligence & Analytics • 24/7 Multilingual Technical Service Desk • Data Center & Infrastructure • Desktop Lifecycle Management • Technical Staffing & Recruiting Call GDC IT Solutions Today to Request Your Free Consultation! liability, both internally and externally, and I think we’re back,” Pennypacker maintains. “And our customers are recognizing that and,as a result,we’re starting to gain some traction inmarkets wherewe lost substantial share.” Pennypacker attributes the company’s recent gains as the result of an accelerated product development programusing the Lean tools to accelerate product innovation using Lean principles,calledTheManitowocWay.“The key is that when wewere doing all this restructuring last year,I didn’t cut a single dime of our research and development,”he says.“We changed the product plan,because the one being executed wasn’t effective.And this past March,wewere at the largest crane trade showin theworld,CONEXPO in LasVegas,with a substantial portion of the products on displaybeing new products.And the reception was extremely positive, based on our order rate and customer feedback.” “We showed twelve cranes, and eight of them were actually developed in the last twelve months,” says Ion Warner, Vice President of Marketing and Investor Relations. “And, of the eight, two of them were developed in the last six months. So, the velocity of new product development has accelerated with the products and attri- butes that customers want. And it underscores the cultural transformation that we’ve under- gone over the last 14 months.” In fact, the company’s accelerated product development ethos was not entirely new; it actually harkened back to the time when Man- itowoc was building submarines for the Navy. Even though it had never built one before, its first, the USS Peto, which sank seven ships in ten World War II Pacific patrols, was completed 228 days before its contracted delivery date, and its 28th sub, the USS Mero, was completed on the date the original contract was expect- ing the 10th sub to set sail. Today, the restructured Manitowoc Company has approximately 5,000 employees, world- wide, with manufacturing locations in the U.S., France, Germany, Italy, Portugal, China, and India. The company continues to design, man- ufacture, market, and support a comprehensive product line of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, and boom trucks, marketed principally under the Manito- woc, Grove, Potain, and National Crane brand names. Its customers include dealers, rental companies, contractors, and government enti- ties, across the petrochemical, industrial, com- mercial, power and utilities, infrastructure, and