Manitowoc to Sell Delta Manlift to JLG Industries

Wed March 31, 2004 - National Edition

The Manitowoc Company Inc. announced that JLG Industries Inc. has made a binding offer to purchase Manitowoc’s subsidiary, Delta Manlift.

Headquartered in Tonneins, France, Delta manufactures the Toucan brand of vertical mast lifts, a line of aerial work platforms distributed throughout Europe for use principally in industrial and maintenance operations. The transaction is subject to completion of definitive agreements, receipt of customary approvals and submission to Delta’s works council.

Manitowoc will continue to provide dedicated parts and service support for its recently discontinued aerial work platform product lines, primarily Liftlux, US Manlift and the US parts business, through its Manitowoc CraneCARE operations. In addition to the Delta transaction, JLG will acquire certain intellectual property and related assets of these discontinued product lines, which will enable JLG to re-launch selected Liftlux models at a later date.