Manitowoc to build new factory in China

The Manitowoc Crane Group has announced it will build a new crane manufacturing plant in Zhangjiagang, China. Work on the new facility, which will replace the existing Potain factory there, will begin this quarter.

The new 120000 m² plant will manufacture a full range of Potain tower cranes as well as components for Manitowoc crawler and Grove wheeled mobile cranes. The factory will be finished in 2006 and will house 400 employees by 2008.

Manitowoc CEO Terry Growcock said, “This new crane plant is part of our strategy to increase global crane sales and market penetration. It will strengthen our presence in Asia and enhance our abilities to truly serve the worldwide crane market. This project is precisely the sort of significant growth initiative we intend to fund with our recently completed equity offering.”