Here's the news...Manitowac closes Freeland facility...which produces Garland brand ovens, and clamshell grills for McDonalds, Ovens for Tim Hortans, Grills for Sonic...Once again the money maker get's sacrificed to help other struggling companies....
Stop making this seem so catastrophic. Only 160 people got laid off. They're not stopping the Garland brand, their just streamlining their business and cutting the poorer producing facilities. This was a cost cutting move. They'll produce these items in another facility.
I'm sorry if you lost your job. You'll just have to move out of the area to find work.
I thought this was going to be an announcement of a Favre for Aaron Rodgers trade...
The Stanley/BD deal isn't really impressive. It's all stock, and sounds like more of a merger. Cash deals would be good for the overall market.
In any case, there's like zero chance that someone will buy MTW.
"Good morning Mr. Wrench, former CFO of Enodis. I am slightly confused about your comments on Frymaster. I am certain that the "LUV" deal almost bit the dust because of problems in the field, NOT PILOT RUNS. Mr. Wrench, this is not just "BS'n AT THE BAR"."
Yes you are very much confused;
- It's not "LUV", it is "LOV" (Low Oil Volume)
LUV was a P.O.S. mini truck the GM tried to sell in the 70's.
The LOV is a new technology that many fryer companies are chasing, there are several releases by Frymaster and other companies (Henny Penny). They all have had issues, some worse than others. Frymasters problems were mainly caused by a company called Restaurant Technologies Inc, whose design on a 3 way valve was causing the pump in the Frymaster fryer to fail. The sediment was causing the valve to jam. Frymasters answer was to design their own valve system into the fryer (one that does not get clogged) so now the RTI systems plugs hoses directly into the rear of the fryers, without the badly designed RTI 3 way valve.
-McDonalds was prepared for bumps in the road, the breakdown was that RTI refused to fix the problem, so Frymaster fixed it for them. The new LOV's are shipping now, and the WSJ just reported that McDonalds will be expanding with new store AND refurbishing 2000 old stores (this means new equipment, and it will be Frymaster LOV fryers, Garland Grills, Delfield smoothie machines)
- The plant in Freeland is frankly in the middle of nowhere, the infastructure in the area and the plant itself is 30 years behind the times. Plus it's unionized, not good.
You assume that it the products made in Freeland are moving to Toronto? You are making a huge assumption here.
- I've challenged you with facts, not emotional babbling. So belly up and buy me a beer. You attacked the other companies because yours is being closed, a natural reaction I guess, but your previous post was not factual, (imagine that? on a message board?)
Again, I'm sorry to hear about the plant closing, mainly for the employees, this economy is hurting everyone. No one wants to see anyone lose their jobs, period.
1) I'm not Dave Wrench, stop referring to me as that person. A person such as he wouldn't waste time smurfing message boards.
2) Again, your emotional rant is about moving everything to the plant in Canada, maybe they will, maybe they won't, at any rate, the decisions apparently have been made. My point is you seem to believe that the Freeland facility is the golden goose, it's not, your ass has been handed to you every year by plants without a union. Ouch!! that has to hurt.
3) I have to assume your talking about McCullough who "left Enodis in debt". mmmm he purchased Scottsman ice and paid off the debt in 3 years free and clear. And he hasn't retired.
4) Your reference to Freeland being the "money maker" of the company is highly subjective, have you seen books for the other companies?
5) If you know so much about the goings on, you would know that it was NOT spelled "Welbuilt", but "Welbilt", a company started by Richard Hersch, corporate HQ in New Hyde Park NY. What other information have you posted that might be wrong?
Good Day and good luck, I have proved my point with facts, forget the beer, enjoy your crow.
"Frymaster, a Louisiana based company of Manitowoc's food service group came within inches of loosing their contract with MCDONALDS because of their lack of consistency and quality."
This is not true, do you have facts to back this statement up or is this buddies bullshitting down at the bar?
Frymaster has been selling quality equipment to McDonalds since the early 80's. Never has there been a threat by McDonalds to "pull the contract" from Frymaster for for "consistancy or quality" issues.
This is a very close relationship, so close that McDonalds comes to Frymaster to ask them to develop a certain products (non-fryer and fryer)that no other company is willing or capable of developing and producing. Any issues Frymaster has ever had with a product at McDonalds have all been pilot programs and prototype equipment that McDonalds has asked Frymaster to develop. (UHC, HLZ,LOV)
I understand you may be upset about the Freeland facility closing, and I agree Garland Canada has had issues, but to start trashing the rest of the companies in the foodservice division with half truths is childish.
Grill will be moved, and I have no doubt that wherever it is moved too, it will continue the be successful because the other companies are no slouches. Thanks to the hard work by the people in Freeland, McDonalds will still continue to purchase good equipment, only from another factory.
I'm sorry to hear about the people at Freeland.
Good morning Mr. Wrench, former CFO of Enodis. I am slightly confused about your comments on Frymaster. I am certain that the "LUV" deal almost bit the dust because of problems in the field, NOT PILOT RUNS. Mr. Wrench, this is not just "BS'n AT THE BAR". Also Canada continues to have its issues; these are not just issues in the past. Canada can't even make on time deliveries, working 3 days a week, let alone bringing more work to the plant. What I would like to know along with OTHER SHAREHOLDERS, YES I AM A SHAREHOLDER, is how do you move products out of the country only to be imported back into the country at a fee. How do you produce a product in another country in which the currency rate is higher than the country you are moving it from, and have the same profit margin?????? How do you rid of a building that is bought and paid for, and that has land around it, that the town offered to give the company for FREE, to move it to a building that is not owned by the company???? I guess you do the same "BS AT THE BAR", at the corporate meetings with Manitowoc! As a CFO you are supposed to tell the public the TRUTH about business not “BS AT THE BAR”! I’ll pick away little at a time! Shareholders need to know the “TRUTH” on how this company makes business decisions! Who else housed in Canada would like to join in? CHALLENGE ME!! Bring on some FACTS on why you made your decision! Have a great day!