The Business Journal of Milwaukee (Free subscription) | 10/29/2008
The Manitowoc Co. Inc. posted a third-quarter loss after taking into account a loss on currency hedging related to its purchase of British food service equipment manufacturer Enodis plc. (MTW)
The Business Journal of Milwaukee (Free subscription) | 10/27/2008
The Manitowoc Co. Inc. said Monday that it has completed the acquisition of Enodis plc, a global food service equipment manufacturer, in a deal valued at $2.7 billion. (MTW)
taktik(z) Blog (Free subscription) | 10/27/2008
Manitowoc Co. said Monday it has closed on its $2.7 billion buyout of Enodis PLC, a maker of food service equipment, but said its third-quarter results would include a currency hedging loss from the deal.… Continue reading
PR News Wire (Free subscription) | 10/27/2008
- Integration of Manitowoc and Enodis foodservice businesses underway - Combined Foodservice segment annual revenues of nearly $2 billion, net of expected divestitures - Combined entity provides a full range of commercial kitchen equipment with more than 30 leading brands, factories in 9 countries, and more than 8,000 employees worldwide MANITOWOC, Wis., Oct. 27 /PRNewswire-FirstCall/...
PR News Wire (Free subscription) | 10/27/2008
MANITOWOC, Wis., Oct. 27 /PRNewswire-FirstCall/ -- Further to the announcement dated October 24, 2008, The Manitowoc Company, Inc. (NYSE: MTW) and Enodis plc (L: ENO) are pleased to announce that the Court Orders relating to the Scheme of Arrangement and associated Reduction of Capital have now been delivered to the Registrar of Companies (and, in relation to the Reduction Court Order, such...
PR News Wire (Free subscription) | 10/24/2008
MANITOWOC, Wis., Oct. 24 /PRNewswire-FirstCall/ -- Further to the announcement dated October 22, 2008, The Manitowoc Company, Inc. (NYSE: MTW) and Enodis plc (L: ENO) are pleased to announce that the High Court of Justice in England and Wales has today made an order confirming the reduction of Enodis' share capital in connection with the Scheme of Arrangement by which Manitowoc's Acquisition...
PR News Wire (Free subscription) | 10/22/2008
MANITOWOC, Wis., Oct. 22 /PRNewswire-FirstCall/ -- The Manitowoc Company, Inc. (NYSE: ) and Enodis plc (L: ENO) are pleased to announce that the High Court of Justice in England and Wales has today made an order sanctioning the Scheme of Arrangement by which Manitowoc's acquisition of Enodis is being implemented. In order for the Scheme to become effective in accordance with its terms,...
Forbes (Free subscription) | 10/29/2008
Manitowoc’s $2.1 billion acquisition of British kitchen-equipment maker Enodis in July has become ever more fraught with complications. Manitowoc reported a loss in the third quarter after the bell on Tuesday on a hedging loss related to its purchase of Enodis, showing that the company had bet on the wrong side of the British pound.Since Manitowoc) beat out Illinois Tool Works) for Enodis...
Forbes (Free subscription) | 10/30/2008
Investors think Manitowoc's crane business is headed for a down cycle, but the manufacturer is more optimistic. On Tuesday after the closing bell, Manitowoc reported a third-quarter loss on a hedging loss related to its acquisition of commercial kitchen equipment maker Enodis.Wall Street Access Vice President Charlie Rentschler doesn't share the company's optimism. "I think these industries...
The Earth Times Online Newspaper (Free subscription) | 10/28/2008
... segment. The hedging loss reflects the accounting treatment of hedges for the purchase price of Enodis plc that were employed to remove the currency risk inherent in Manitowoc's Great British Pound offer for Enodis. Manitowoc's credit commitment required that 80 percent of the purchase price of Enodis be hedged by July 30, 2008. Given the significant reduction in the Great...
PR News Wire (Free subscription) | 10/28/2008
* Third-quarter 2008 net sales from continuing operations totaled $1.1 billion, a 20 percent increase from the third quarter of 2007 * Third-quarter EPS of $0.80 before special items, 21 percent higher than the prior third quarter * Year-to-date EVA was $219.5 million, up 47 percent from the same period of 2007 * Crane backlog increases 26 percent from the third quarter of 2007 * Enodis...
