regulatory
confidence high
sentiment negative
materiality 0.75
Manitowoc records $13.9M EPA charge; potential penalty up to $174M
MANITOWOC CO INC
- Recorded $13.9M charge in Q4 2021; total estimated liability $14.9M as of Dec 31, 2021.
- EPA probe covers ~1,420 engines in cranes sold Jan 2014-Jul 2017 under TPEM program.
- Statutory maximum Clean Air Act penalties approx $174M; Company disputes noncompliance.
- Discussions with EPA and DOJ ongoing; outcome may materially impact financial condition.