Debt ManagementProceeds from the sale could be used to lower debt or for strategic acquisitions, enhancing the company's financial position.
Revenue GrowthRevenue growth during the quarter was driven by the Heavy Fabrication segment where revenues improved 14.7% YoY and 23.6% QoQ, to $25.2M as a result of increased demand for wind re-powering adapters.
Strategic DiversificationThe sale of Manitowoc Industrial Operations is part of management's efforts to diversify revenue into power generation and infrastructure markets.