The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or “Manitowoc”) today reported that it agreed to the terms of a Consent Decree with the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Justice (DOJ) regarding alleged violations of the Transition Program for Equipment Manufacturers (TPEM), a program under the U.S. Clean Air Act. Per the terms of the agreement, Manitowoc will pay a civil penalty of $42.6 million and complete an emissions mitigation project upgrading a short-line locomotive engine in Maryland. Completion of the terms in the Consent Decree settles this matter and releases the Company from civil claims under the Clean Air Act related to the Company’s participation in the TPEM program.

This agreement concludes a matter announced in a press release dated January 17, 2022, in which Manitowoc announced that an internal investigation indicated the Company may not have met all requirements of the TPEM program for a portion of engines mounted on Manitowoc mobile cranes sold in the U.S. between 2014 and 2017. Manitowoc has booked a financial reserve for the settlement of this matter.

The Manitowoc Company, Inc.

The Manitowoc Company was founded in 1902 and has over a 120-year tradition of providing high-quality, customer-focused products and support services to its markets. Headquartered in Milwaukee, Wisconsin, United States, Manitowoc is one of the world's leading providers of engineered lifting solutions. Manitowoc, through its wholly-owned subsidiaries, designs, manufactures, markets, distributes, and supports comprehensive product lines of mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under the Aspen Equipment, Grove, Manitowoc, MGX Equipment Services, National Crane, Potain, and Shuttlelift brand names.

Ion Warner SVP, Marketing and Investor Relations +1 414-760-4805 ion.warner@manitowoc.com

Manitowoc (NYSE:MTW)
Historical Stock Chart
Von Nov 2024 bis Dez 2024 Click Here for more Manitowoc Charts.
Manitowoc (NYSE:MTW)
Historical Stock Chart
Von Dez 2023 bis Dez 2024 Click Here for more Manitowoc Charts.