Manitowoc adds $10.8M charge for EPA/DOJ engine probe; total liability $25.7M

MANITOWOC CO INC

Additional charge of $10.8M recorded in Q2 2023 for TPEM program and certification matters.
Total estimated liability now $25.7M; relates to ~1,420 engines in cranes sold 2014–2017.
Statutory maximum Clean Air Act penalties estimated at ~$174M.
Company believes it has strong legal and factual defenses but resolution may materially impact finances.

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