Manitowoc Crane products delayed because of union strike
Negotiations underway for Manitowoc Crane
After nearly 200 members of the International Association of Machinists went on strike after rejecting a proposed four-year labor contract, the company laid off as many as 156 boilermakers.
Although 12 boilermakers were recalled December 7, and the other 25 will return December 12, negotiations with a federal mediator have not made significant progress. As a result, Manitowoc expects fourth-quarter crane sales and operating earnings to be negatively affected by approximately $35 million and $10 million, respectively.
Additionally, Manitowoc Crane said that current conditions will result in the company's debt reduction to be near or below the low end of its previously announced $150 million to $200 million target range.
*Article from Crane Hotline Magazine
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