Last fall, Manitowoc Inc. was flying high. The 107-year-old fabricator had just wrapped up two years of factory upgrades worth roughly $70 million and was popping out construction cranes for record sales and backlogs worth more than $3 billion. It also had started building its biggest crane ever—the Model 31000—a massive, 2,500-ton rig with a $30-million price tag. Photo: Tudor Van Hampton / ENR The giant crane’s lowerworks are powered by two 600-hp Cummins diesels and stand firm on four trunnion-mounted tracks. Tellock says Manitiwoc may apply its patented designs to other rigs. Related Links: Heavy Lifter: Manitowoc Builds Its
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.