Manitowoc | Lifting Equipment--The Manitowoc Company Completes Sale of Kysor/Warren

The Manitowoc Company, Inc. (NYSE: MTW) today announced the completion of its previously announced divestiture of Kysor/Warren and Kysor/Warren de Mexico ("Kysor/Warren") to Lennox International (NYSE: LII) for a value of $138 million.

Manitowoc will use the net proceeds of approximately $124 million from this sale to further reduce its secured debt and financial leverage.

About The Manitowoc Company, Inc.

The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with nearly 100 manufacturing, distribution, service, and/or office facilities in 26 countries. It is recognized as one of the world's largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. Manitowoc also is one of the world's leading innovators and manufacturers of commercial foodservice equipment serving the ice, beverage, refrigeration, food prep, and cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications.