Manitowoc Submits Anti-dumping Duty Petition In The U.S

(RTTNews) - Manitowoc Co., Inc. (MTW), a manufacturer of cranes and lifting solutions, said on late Thursday that it has filed an anti-dumping petition with the U.S. International Trade Commission and the U.S. Department of Commerce.

The petition was initiated against the dumping by producers of lattice-boom crawler cranes from Japan, which is affecting the business, the company added.

Aaron Ravenscroft, President and Chief Executive Officer of Manitowoc Co. stated, "Our action today clearly indicates that Kobelco's behaviors have harmed our U.S. lattice-boom crawler crane operations."

The company said that it expects the U.S. Government to take corrective steps to ensure fair competition and trade practices in the crane manufacturing industry.

On the NYSE, the stock ended Thursday's trade at $7.60, down 6 percent.