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4-Traders Homepage  >  Equities  >  Nyse  >  Manitowoc Company Inc    MTW

Delayed Quote. Delayed  - 02/22 10:02:03 pm
6.42 USD   -3.17%
02/15 MANITOWOC FOODS : changes name to Welbilt
02/06 MANITOWOC FOODS : MFS) Files An 8-K Other Events
02/01 MANITOWOC : reports 4Q loss
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Manitowoc Foodservice : changes name to Welbilt

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02/15/2017 | 09:16am CET

Commercial foodservice equipment maker Manitowoc Foodservice will be changing its name to Welbit.

The rebranding will see a change in logo and other material by March 6, 2017.

The change is part of the company's repositioning after it spun off from its former parent company, The Manitowoc Company, in March 2016.

Manitowoc Foodservice president and CEO Hubertus M. Muehlhaeuser said: "We are excited to announce the changing of our name to Welbilt, Inc., which further strengthens our corporate identity as a stand-alone company."

He added: "Welbilt reflects our promise and commitment to bringing innovation to the table. Rooted in the Hirsch brothers' innovative stove in 1929, Welbilt developed to become the first company in the industry pursuing a complete systems approach.

"The name Welbilt uniquely connects our past with our vision of the future. Our primary objective is to continue offering a complete solution for the entire kitchen with high-quality products supported by excellent service that help our customers' kitchens reach their full potential. As we continue to innovate and grow, we will always remain grounded in our long history."

Chief operating officer Josef Matosevic said: "Welbilt is synonymous with great quality and reliability in everything we do. We have significantly improved our operations to live up to that promise. Welbilt is also pragmatically innovative and all our products and solutions are designed with the entire kitchen in mind."

Welbilt's broad portfolio includes both hot and cold foodservice equipment in the industry, from ovens, fryers, steamers, grills, ranges and induction cooktops to beverage dispensing, blending, refrigeration and ice-making equipment.

The publically listed company opened its dedicated UAE offices to serve the entire Midde East region last year at Dubai Silicon Oasis.

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(c) 2017 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 1 455 M
EBIT 2017 -2,07 M
Net income 2017 -41,3 M
Debt 2017 181 M
Yield 2017 0,15%
P/E ratio 2017 -
P/E ratio 2018 166,58
EV / Sales 2017 0,76x
EV / Sales 2018 0,72x
Capitalization 920 M
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Mean consensus HOLD
Number of Analysts 15
Average target price 5,56 $
Spread / Average Target -16%
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NameTitle
Barry L. Pennypacker President, Chief Executive Officer & Director
Kenneth W. Krueger Chairman
David J. Antoniuk Chief Financial Officer & Senior Vice President
Donald Marion Condon Independent Director
Robert G. Bohn Independent Director
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