Multi-line equipment manufacturer Manitowoc Foodservice, Inc. (NYSE: MFS) debuted as a standalone, publicly traded company on March 4, 2016. Manitowoc Foodservice was spun off from The Manitowoc Company, Inc. (NYSE: MTW).
This represents the culmination of a series of events that spanned more than one year. In January of 2015, the Manitowoc Company’s board of directors approved researching a plan to separate its crane and foodservice businesses into two units. In August 2015, Manitowoc Foodservice introduced Hubertus Muehlhaeuser as its new CEO. And in November 2015, the company updated its production and logistics capabilities by transferring production of its Cleveland, Convotherm and Lincoln product lines to three different facilities. At the same time, Manitowoc Foodservice announced plans to open a logistics center in its Covington, Ky., warehouse.