Manitowoc increases revolving credit facility

Manitowoc has entered into a five-year, $300 million credit pact with a syndicate of 13 banks. The revolving credit facility replaces a $125 million facility due to expire in May 2006. Terry Growcock, chairman and chief executive of Manitowoc, said the agreement, which includes an option of increasing the credit line to $550 million at a later date, provides increased flexibility to support growth and “pursue future opportunities.”