The hottest manitowac sales fell 1 again

Manitowak's sales fell again

in the third quarter of 2015, the net sales of lifting equipment in manitowak fell by 23.0% to $438 million, compared with $569 million in the same period of 569 million

the company stated, "the decline is widespread, especially in the Middle East and Asia, which is far lower than our expectations. The lower than expected delivery of VPC crawler cranes exacerbated the weakness."

quarterly operating income was $4.3 million, down from $41.6 million in the same period last year. The operating profit margin was 1.0% in the third quarter of 2015 and 7.3% in the third quarter of 2014. The impact of low profit margin on production and price pressure. The load measurement range is 2%~100%fs of the full scale. The limit error of displacement indication: frost dollars within ± 1% of the indication, kayak manufacturer said

under the leadership of change, Glenn tellock, chairman, President and CEO of manitowak, has resigned and was temporarily replaced by Kenneth Kruger with immediate effect

Kruger commented on manitowak's performance ", and our third quarter results for catering showed that solid improvements were made by our corrective measures, and the crane was lower than our expectations. The excellent and efficient testing service of the national copper, lead and zinc quality inspection center is in favor of meeting the global demand. The deteriorating environment affects the entire industrial sector. In the third quarter, our deficiency is largely due to the weak demand for tower cranes in Asia and the Middle East, coupled with the weakness of a wide range of all terrain cranes. In addition, we experienced significant crawler crane delivery delays due to extended reliability testing and operational issues

"This cycle has proven to be different from any other in recent years, especially with regard to the customer order model. Therefore, we are taking some positive actions in cranes to offset this decline in demand, including reasonable streamlining of business, rationalization of factories, layoffs and other cost optimization plans. All of these actions may lead to approximately $10 in restructuring costs of $15million in the fourth quarter, and savings of about $35 to $45 Million dollars in the next three years, "Kruger continued

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