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Non Regulatory

Alimak Group co-develops tower crane elevators together with Manitowoc

Alimak Group (Alimak), the vertical access solution company, has signed an agreement with US based capital goods manufacturer Manitowoc Company Inc. (Manitowoc) regarding joint development and production of specialised internal tower crane elevators.

The agreement covers co-development and distribution of tower crane elevators. Alimak will supply its standardised external operator elevators adapted to fit the Manitowoc range of cranes that will be offered in both Alimak's and Manitowoc's respective global sales and distribution networks. In addition, Alimak has signed an exclusive distribution agreement with Manitowoc regarding an internal tower crane elevator, attached within the crane's mast, which will be exclusively sold and distributed by Manitowoc.

The new tower crane elevator solutions will meet stringent health and safety regulations in Europe, including the latest as laid out in France, stating that motorized access must be available for operators climbing 60 meters or more to the tower crane cab, and from 30 meters in the new regulation taking effect in 2017.

"We are very excited about the new agreement with Manitowoc regarding tower crane elevators. Increased health and safety requirements on vertical access solutions are one of the global trends that we see in both mature and emerging markets. The new tower crane elevators provide safe and fast access to tower crane cabs and is an additional example of our strategy to broaden our product portfolio to service different industries and application areas", says Tormod Gunleiksrud, CEO of Alimak Group.

Both the internal and external product-versions will be presented for the first time during the Manitowoc customer event on June 23-26 2015. Both elevator solutions will be available at the beginning of 2016.

About Manitowoc Company Inc.

Founded in 1902, The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with 92 manufacturing, distribution, and service facilities in 25 countries.  The company is recognized globally as one of the premier innovators and providers of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry.

Manitowoc's Potain brand has since its inception in La Clayette, France in 1928, been the world leader in tower crane production, with more than 100,000 cranes sold and installed around the world.

In 2014, Manitowoc's revenues totalled $3.9 billion, with approximately half of these revenues generated outside of the United States.

About Alimak

Alimak is a global market leader and pioneer in designing, developing, manufacturing, distributing and servicing industrial rack-and-pinion vertical access solutions. The Company provides high quality hoists, elevators and platforms primarily for the industrial and construction sectors. Alimak has a global sales, services and distribution platform across more than 50 countries and strong market positions. The Company has a well-established and resilient After Sales business and its large global installed base of ca. 21,000 units provides unique know-how into its customers' needs. Alimak was founded in 1948, is headquartered in Stockholm and employs over 1,100 people across the world. The Company had revenues of SEK 1.7 billion in 2014 and is listed on Nasdaq Stockholm.

For more information, please contact

Tormod Gunleiksrud

CEO and President, Alimak Group

Tel: +46 8 402 1442

Stefan Rinaldo

CFO, Alimak Group

Tel: +46 8 402 1447

John Womack, Director of Investor Relations, Alimak Group
Tel: +46 70 678 24 99

The information above has been published pursuant to the Swedish Securities Markets Act (Swe. lag om värdepappersmarknaden) and Swedish Financial Instruments Trading Act (Swe. lagen om handel med finansiella instrument).

This information was released for publication at 13.00 CET on June 23, 2015.