MANITOWOC, Wis. (AP) -- Manitowoc Co. said Monday it has closed on its $2.7 billion buyout of Enodis PLC, a maker of food service equipment, but said its third-quarter results would include a currency hedging loss from the deal.
Due to currency hedges for the acquisition, Manitowoc said its third-quarter results would include the recognition of a one-time, non-cash loss of $198.4 million before taxes, or the equivalent of 99 cents per share.
Manitowoc said the acquisition gives it greater capacity to produce refrigerators, ice makers, beverage dispensers and other equipment for commercial kitchens. The company said the integration of Enodis was under way.
Enodis also makes cranes and other construction lifts.
Shares of Manitowoc added 13 cents to $9.07 in morning trading.