Flash Facts — February 3


Manitowoc chosen in Forbes Platinum 400
Capital goods manufacturer Manitowoc Company, Inc. has been selected as one of the Best Big Companies in America by Forbes Magazine’s 2003 Platinum 400 list. Overall, companies were chosen from 23 different industries. Selection criteria was based on results over 1 and 5 year periods dealing with return on capital, revenue growth and earnings. “We’re very proud to be included in the prestigious Forbes Platinum 400 list for the first time,” Manitowoc’s chairman Terry D. Growcock said. Manitowoc is currently the world’s largest provider of lifting equipment for the construction industry.

UAW ratifies contract with AxleTech
Off-highway and specialty vehicle axle manufacturer AxleTech recently reached an agreement with the members of the United Auto Workers at their Oshkosh plant Wednesday. The Oshkosh plant, formerly the ArvinMeritor plant, was purchased by AxleTech’s parent company Wynnchurch Capital Ltd. in December. Union members ratified the contract Wednesday, although the terms were not disclosed.

Caterpillar to eliminate 500 jobs
About 500 management and salaried jobs will be cut as part of a plan to streamline operations at several Caterpillar, Inc. plants. According to Caterpillar, employees will be given the opportunity to seek positions elsewhere in the company, which employs 70,000 worldwide. The cuts will affect plants in Mossville and Pontiac, Ill.; Lafayett, Ind.’ Griffin, Jefferson and Thomasville, Ga.; Greenville, S.C.; and Kiel, Germany. “This is not a mass layoff. It’s a restructuring that will impact some jobs,” Caterpillar spokesman Ben Cordani said. “But we plan to try to re-deploy the affected employees into other parts of the company.”

Stone Construction Equipment receives honors
Stone Construction Equipment was recently named Vendor of the Year for 2002 by the Do It Best Corporation. The company was chosen out of a group of 3,000 vendors. The honor is given annually to a company that provides outstanding products and service. Stone also received the Sales and Marketing 2002 Access Award from Hughes Company. The award was given to the company for achieving the greatest sales volume increase in 2002. Stone products are distributed worldwide and include concrete and mortar mixers, hand held compaction equipment, ride-on asphalt and dirt rollers, trench compactors, power trowels, concrete/pavement and masonry block saws, material handling equipment and concrete vibrators and screeds.

Terex Plans to Consolidate Aerial and Crane Operations
Terex Corp., has announced plans to consolidate its aerial work platform and crane manufacturing operations, according to CEO Ron DeFeo. Terex’s aerial line will be discontinued as those products will be integrated with Genie Industries products. In addition, many of the companies’ crane products will be cut as a result of the scale back of its crane manufacturing operations in Montceau, France.Many of its crane products will be integrated with Demag products.


Arnco names technical representative for Southwest region
Flatproofing product supplier Arnco has announced the appointment of Jack C. Keith as technical representative for the Southwest region, which includes Arkansas, Colorado, Kansas, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, Texas and Oklahoma. Keith joins Arnco after retiring from the United States Coast Guard as master chief. His background includes experience in the polyurethane field with both Logan Industries and Lutex Chemical Corporation.