Business Week magazine recently listed crane manufacturer Manitowoc No. 37 on its annual ranking of best-performing companies, despite the company’s expectations that crane sales will fall 20 percent in 2009. The magazine cited the Manitowoc, Wis.-based company’s doubling of its revenue between 2005 and 2008 to $4.5 billion.
Business Week noted Manitowoc’s recent acquisition of Enodist, a manufacturer of commercial kitchen products as a move that will mitigate the construction downturn.
Shares of Manitowoc were priced at $4.08 at the close of trading Friday.