Global foodservice manufacturer Manitowoc Foodservice looks to be breaking off into a separate Manitowoc as soon as the first week of March, with speculations that the split would allow the latter to better tackle positions created by softness in the market.
“Shares of [Manitowoc] continued to trade on the regular-way market under the symbol “MTW”. The ‘when-issued’ trading and ‘ex-distribution’ trading will continue till March 4, 2016,” a Forbes report noted of the spin-off in trading. “Beginning March 7, 2016, shares of [Manitowoc] and [Manitowoc Foodservice] will trade ‘regular-way’ under the symbols “MTW” and “MFS” respectively.”
The report also stated speculations that the separation would enable the company to be better positioned to take on challenges in the market, such as weakness in oil.
Manitowoc Foodservice currently operates in several different countries, including:
Keep checking in with DeliMarket News as we continue to follow any further developments in this story as more comes to light.
