The Manitowoc Company Receives Favorable Final Determination in Sany Patent Infringement Lawsuit

The Manitowoc Company, Inc. (NYSE: MTW) today announced that The United States International Trade Commission (“ITC”) has issued a favorable final determination in the patent infringement and trade secrets case filed by Manitowoc Cranes (“Manitowoc”) against Sany Heavy Industries and Sany America (collectively “Sany”).

“Innovation has always been a core value of our organization and key to our success over the years. Our Variable Position Counterweight (VPC) technology is a game changer in the industry and one example of our ongoing commitment to this endeavor. We are thrilled with the ITC’s decision, and believe today’s final determination further validates our clear technological leadership in the market place,” commented Glen E. Tellock, Manitowoc’s chairman and chief executive officer.

On April 16, 2015, the ITC issued a Notice of the Commission’s Final Determination and Cease and Desist Order against Sany in Certain Crawler Cranes and Components (Inv. No. 337-TA-887). The Final Determination was issued in connection with the ITC’s investigation into Sany’s conduct based upon a complaint filed by Manitowoc, which alleged that Sany had violated Section 337 of the Tariff Act.

In its Final Determination, the ITC determined that at least one Sany crane product infringed one of Manitowoc’s patents and that six trade secrets of Manitowoc were both protectable as trade secrets and misappropriated. As a result of these findings, the ITC has issued a limited exclusion order that prohibits importation by Sany of cranes (a) that infringe one of Manitowoc’s patents or (b) that use any of six of Manitowoc’s trade secrets for a period of ten years. The ITC also issued a cease and desist order that prohibits Sany America from importing, selling, marketing, advertising, or distributing cranes that were manufactured using any of the six Manitowoc trade secrets found to be misappropriated.

About The Manitowoc Company, Inc.

Founded in 1902, The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with 92 manufacturing, distribution, and service facilities in 25 countries. The company is recognized globally as one of the premier innovators and providers of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry. Manitowoc is also one of the world's leading innovators and manufacturers of commercial foodservice equipment, which includes 24 market-leading brands of hot- and cold-focused equipment. In addition, both segments are complemented by a slate of industry-leading product support services. In 2014, Manitowoc’s revenues totaled $3.9 billion, with approximately half of these revenues generated outside of the United States.

Forward-looking Statements

This press release includes "forward-looking statements" intended to qualify for the safe harbor from liability under the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations of the management of the company and are subject to uncertainty and changes in circumstances. Forward-looking statements include, without limitation, statements typically containing words such as "intends," "expects," "anticipates," "targets," "estimates," and words of similar import. By their nature, forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results and developments to differ materially include, among others:

• uncertainties associated with new product introductions, the successful development and market acceptance of new and innovative technology and products that drive growth, including Manitowoc’s variable position counterweight technology;
• the ability to focus on the customer, new technologies, and innovation;
• unanticipated changes in customer demand, including changes in global demand for high-capacity lifting equipment;
• uncertainties in litigation and regulatory proceedings relating to the enforcement and defense of intellectual property, including patents, trademarks and trade secrets; and
• risks and other factors cited in Manitowoc's filings with the United States Securities and Exchange Commission.

Manitowoc undertakes no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements only speak as of the date on which they are made. Information on the potential factors that could affect the company's actual results of operations is included in its filings with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for the fiscal year ended December 31, 2014.