Manitowoc
MERITOR AXLES. THE RIGHT TOOL FOR YOURMOST DEMANDING JOBS. A LEGACY 100 YEARS IN THE MAKING. As the world’s largest independent manufacturer of heavy duty axles for a broad range of vehicle applications, Meritor hasmore than 100 years of innovative thinking. Over the years, we’ve provided unsurpassed leadership in the design, engineering and manufacturing of axles for the global transportation industry. Today we further our rich legacy with leading-edge engineering, advanced gear-cutting, component durability and lightweight materials to support virtually every vocational application. EVERYTHING YOU NEED TO GET— AND STAY—AHEAD. When it comes to axles, Meritor knows what works. Our full line of front axles, single rear axles, Planetary Off Highway axles, tandem and tridemvocational axles feature updated forward-thinking designs to give you a true competitive edge. ProvenMeritor axle leadership has resulted in a broad range of front drive and non-drive steer axles that combine unmatched steering control, durability and lowmaintenance. Our wide range of single rear axles includes hypoid single-reduction and helical-hypoid double-reduction axles, all of which deliver a unique combination of precision engineering, component durability and lightweight options. For many applications, nothing less than a tandemaxle will survive, andMeritor tandemaxles not only survive, but thrive on the most demanding jobs. Meritor tridemaxles are designed for the harshest environments and applications requiringmore tractive effort, like construction, logging, heavy haul andmining. Meritor Planetary Off Highway axles provide customers excellent value as well as industry leadingmanufacturing lead-times. Bring us your toughest jobs and harshest conditions. Meritor axles deliver time and again. INDUSTRY-LEADING AXLES MEET GLOBAL SUPPORT. Of course, hard-working doesn’t just apply to our axles. Our team also provides exceptional service with global support and unparalleled expertise. Our customer support teamhas the experience, expertise andworldwide support network to help you optimize your spec, and our distribution centers are strategically located to provide timely and complete aftermarket support. Exceptional products and unparalleled service. This is what leadership ismade of. TOTAL AXLE SOLUTIONS FROM THE WORLDWIDE AXLE LEADER. Meritor is the namemore people trust than any other for vocational axles. And for good reason. Through continuous innovation and visionary design, Meritor axles lead the way in reliability, durability and unrivaled service. Runwith the company that delivers legendary performance and one of the industry’smost competitive warranties. Run With The Bull. Off Highway, Construction, Heavy Haul, Refuse, Fire and Emergency. These are just some of the most demanding vocations out there. Fortunately, Meritor axles are designed to excel in the toughest environments. meritor.com/specialty THE MANITOWOC COMPANY tract in addition to its shipyard activities, marking the beginning of its crane man- ufacturing legacy. It began building sub- marines for the U.S. Navy, during World War II, eventually turning out a total of 28 Manitowoc subs between 1942 and 1945. After the war, the company launched Equipment Works, creating products such as refrigerator trucks and dry cleaning equipment, a division that subsequently developed into Manitowoc Foodservice. In the early 2000s, it began a series of acquisitions in order to grow its cranes business. First, there was Potain, a man- ufacturer of tower cranes, with plants in France, Germany, Italy, Portugal, and China. Then, it acquired Grove Cranes, a manu- facturer of mobile telescopic cranes,with manufacturing facilities in Shady Grove, Pennsylvania, andWilhelmshaven, Germany. Next came the National Crane Corporation, a Nebraska-based company,with its series of truck-mounted hydraulic cranes. The company also continued to expand its holdings in the food service sector, acquiring Enodis, a British food making equipment group, in 2008. “The crane business is very cyclical,” explains Barry L. Pennypacker, Manitowoc Company CEO, who was hired in December 2015. “Peak to trough is anywhere from seven to ten years and this company’s revenue can go from $4 billion to a billion-and-a-half during that time frame. So, what the com- This is a company that had a lot of brand equity; it’s over 115 years old; it played a major role in building America. BARRY L. PENNYPACKER MANITOWOC COMPANY CEO pany decided to do about ten years ago was diversify beyond cranes. It purchased Enodis, which was a food service business and made all kinds of differ- ent equipment for the fast food restaurant business – fryers, hamburger grills, beverage dispensers, and all kinds of things you would associate with a QSR, a quick service restaurant.” But, according to Pennypacker, the company’s per- formance lagged and, in 2014, investor Carl Icahn, who had acquired 10.5 million shares of Manitowoc
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