Article: United States: Manitowoc closes sale of shipbuilding unit.

Byline: sanjayV03

Diversified U.S. industrial manufacturer Manitowoc Co Inc (MTW.N) said on Friday it had closed its $120 million cash sale of its shipbuilding business to Italys Fincantieri Marine Group Holdings Inc.The sale leaves the Manitowoc, Wisconsin-based company, which was founded in 1902 as a shipbuilder, with two businesses: building cranes and commercial ...

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