Market Overview

Manitowoc Board of Directors Elects Roy V. Armes as New Director


The Manitowoc Company, Inc. (NYSE:MTW) (the "Company" or "Manitowoc"),
a leading global manufacturer of cranes and lifting solutions, today
announced that Roy V. Armes has been elected to the Company's board of
directors, effective immediately, expanding the Manitowoc Board from
seven to eight members.

Mr. Armes brings expertise and a variety of distinguished professional
experience to the Manitowoc Board. Mr. Armes, previously served on
Manitowoc's Board from 2010 to 2016.

"We are very pleased to welcome back Roy to the Board of Directors,"
said Kenneth W. Krueger, Chairman of Manitowoc's Board of Directors.
"Roy has an excellent track record as a member of our board, and our
Company will benefit once again from his expertise, global experience
and his industry knowledge."

Mr. Armes is the former Executive Chairman, President and Chief
Executive Officer of Cooper Tire and Rubber Co., where he served from
2007 to 2016. Prior to joining Cooper Tire and Rubber, he had an
extensive career with Whirlpool Corp., serving in various executive
leadership roles in the U.S. and globally. He holds a bachelor's degree
in mechanical engineering from the University of Toledo.

Mr. Armes also serves on the Board of Directors of AGCO Corp. (NYSE: AGCO) and serves on the Compensation Committee and Succession Planning
Committee of AGCO.

Barry L. Pennypacker, President and CEO, said, "Roy is highly regarded
in the manufacturing world and brings a wealth of experience in working
with global manufacturing companies like ours, and we expect he will
have an immediate impact and be a valuable contributor."

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