Manitowoc Buys Shuttlelift Crane Line

Posted on January 4, 2007

Manitowoc Crane Group has agreed to purchase Marine Travelift Inc.’s Shuttlelift Carrydeck line of industrial cranes. The Shuttlelift cranes will be added to Manitowoc’s YardBoss line which is sold under the Grove brand and has been manufactured by Shuttlelift under a supply agreement for the last two years.

Manitowoc said it plans to continue selling the Shuttlelift Carrydeck crane line through its existing dealers, while also selling its YardBoss cranes line through the Grove dealer network. Marine Travelift has agreed to continue manufacturing the Carrydeck and YardBoss cranes through the end of 2007 under a mutually beneficial arrangement. Manitowoc will assume responsibility for manufacturing the product beginning in 2008.

Marine Travelift said it is divesting itself of the Carrydeck line as a move to further strengthen the company as it continues to experience growth in their rubber-tired gantry crane business and mobile boat hoist product line. The acquisition will allow Marine Travelift to dedicate full internal resources to grow the business in these two segments.

Through the purchase, Manitowoc said it anticipates improving its position in the industrial crane market as well as enhancing its position in the mobile crane market by offering a more complete product range. The terms of the deal were not disclosed.