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Manitowoc CEO Glen Tellock on the growth in the company’s crane and food-service businesses.
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Take a look -- and food service equipment maker -- to -- rising.
More than 70%.
This year.
Look at it had a big dip in May before steadily climbing back up to where it had been but what part of the business is driving growth that got two parts here.
Can we expect to see that kind of trajectory continue or might there be another spring what -- joining me now out of Fox Business -- List of meta talk chairman and CEO of what Zelikow rang the closing bell congratulations -- You -- Good to have you here I I have you know me I have loved the Manitowoc story because its manufacturing here in the United States have a gigantic cranes that you've got your food service business.
-- wanna get right now to the stock which has done beautifully twice to see her did the diplomatic came back up.
What's been the primary driver.
But certainly -- PM market growth but I think the focus though we have.
People understanding maybe the strategy in the food service cited the great margins and food service and he's couple island to growth and trains and I think it's a pretty good story what what kind of growth and -- can you get specific.
Well I mean our guidance for the year was to be anywhere in -- you between fifteen -- and growth there and the margins are drawing.
Despite you know pretty weak economy in Europe and some things in China.
For the growth in the American south American emerging.
I think that he would get foods.
Even even on on some slower you know flat flat -- -- growth over the second and third quarters.
The margin increases that we've had I think people are starting to see why the combination of these two -- showed earlier -- plus food service equals profit.
OK I mean I I I definitely see that but we you just mentioned Europe where areas of the growth -- -- Crane business homeless is you buying your cranes.
Is it got the story is in Asia or is that you just mentioned some America is that sort of a -- -- pre Olympics play I think this next.
Let me you know a lot of that is obviously Brazil but there's -- The rule.
Columbia all of been good markets and and so that you know than did did the Americas has been good I think if you look at.
What's going on in the energy in the indeed the energy and now.
-- -- -- -- In the fracking that's been a good business for us on the laundry on the boom trucks so so that's really driven and girls and you have you.
Australia's -- good.
You know Russia is coming back to Africa Africa's been a good story this year I think you put all that together on the train sighted upsets some of -- negatively -- Your end up.
End end -- and.
OK let me just make that clear for our viewers the America's Chile Peru some of Brazil brush up.
And then of course the fracking businesses it's just amazing now let's get to the food service part of this you know.
-- involvement in two different businesses and it it's a great balance certainly when one is weaker one sort of pulls up the -- how the food service business and where do you find the real pockets of strength.
Well the the pockets of strength right now our certainly would be James is that it as they recapitalize and you know -- businesses it's.
It's things like how do you get.
More people through the footprint than what they have so there's menu changes there's there's there's -- you know the healthy meal type areas there is.
They be.
What's so -- camping Glen Morgan for the yes sanitation and health -- considers her -- and you look at the growth that.
That that the global teams have been in China.
In India that's all that's all taking enough taking off for us -- look at them the footprint that we haven't food service.
Arguably have the best.
Product range of global footprint that's right -- our competitors are you hiring plan.
How we are in the -- markets weren't did it make sense to -- I hear in the Americans were we have a lot of engineers there were trying to hire.
There's there's parts of Brazil and -- the factory that we have in Brazil right now continue to hire there so I mean where they were the markets are good yes we agritech tiring.
I have to ask you as a Crane manufacturer because it was such a big story here in New York area.
Just two months ago we face this horrible.
You know the her -- situation right around the time of -- because the high winds.
Kind of really bent this gigantic Crane that was right there on 57 street in midtown how closely did you watch that that wasn't wanna -- -- was it.
No wasn't one of our cranes but but you know we -- it very closely and it's been -- -- And types of opportunities.
Com for instance music from the things that I've been reached in recent.
I -- have a lot of information on.
That sounds like they try to do all the right things in -- in a pretty.
Adverse situation which as I can jump -- there are other obviously cranes -- here in New York City at the time.
You know that didn't have problems I think.
And processes are good I'm not just what happened on now on but yet we watch very closely enough out of its week.
-- that situation room that we can we can help out.
They're getting taller and taller and you make them beautifully good to see you thank you glad.
Lives on his plate anytime -- -- -- chair and CEO -- -- -- David a set.
