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The Manitowoc Company, Inc. Message Board

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  • burgersboat burgersboat Sep 6, 1999 10:50 PM Flag

    MTW in IBD

    The management is having a slight problem with
    selling this stone.
    When the company moved its
    operation to the South Works, they leased out many of the
    buildings to private companies. I'm guessing about 11 of
    them. When the leases were given, the company told the
    leasee that if they (the MTW Co.)would sell the
    Peninsula the leasees have 1st right of refussal to
    purchase the building/s their operating out of. Well the
    MTC co. didn't do what they said they'd do. They sold
    or offered to sell the Peninsula to a single
    Company. Something called Manitowoc Developemt inc. or
    something like that. It's not one of the companies that's
    renting any of the buildings now.
    Well I know of 2 of
    the leasee's that are suing the MTW Co. over breach
    of contract.

    There's talk that
    the 2nd
    thing wrong with the Peninsula is the ground is
    polluted, VERY POLLUTED. It's loaded with PCB's and paint
    residue. One estimate to clean it up would be more than
    the Peninsula is worth.
    The city of Manitowoc
    looked at buying the Blue building (the office), they
    would combine City Hall & the County offices all in one
    building. Great Move, but the pollution thing came up and
    that was the end of that idea. But it was a great
    idea. They'd have enough room for both entitties with
    plenty of extra room for the future.

 
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