Manitex International, Inc. Announces Continued Growth in Orders throughout First Quarter 2017
April 18 2017 - 1:36PM
Manitex International, Inc. (NASDAQ:MNTX), a leading international
provider of cranes and compact track loaders, today announced
continued strength in orders for its crane divisions, and
anticipates announcing reported backlog of $60.5 million for the
period ended March 31, 2017, growing from $38.1 million as of
December 31, 2016.
Order activity in 1Q’17 was particularly strong
in the North American Lifting Segment and was driven, in part, by
market share gains and new products, such as the 2085T and TC450,
which were on display at the 2017 Conexpo show in Las Vegas,
Nevada. The company’s book-to-bill ratio was 1.3 during
1Q’17, with build rates for the company’s North American factories
scheduled to increase in the second quarter, supporting
management’s plan for expansion and higher levels of financial
performance in 2017.
“We continue to see order strength across our
crane product groups,” said Steve Kiefer, EVP of Sales and
Marketing for Manitex International. “We are excited to see
increasing orders for our PM and new Manitex products serving the
construction industry, as well as a modest increase in order
activity for larger-tonnage Manitex products serving the energy
sector.”
About Manitex International,
Inc.
Manitex International, Inc. is a leading
worldwide provider of highly engineered specialized equipment
including boom trucks, cranes, and other related industrial
equipment. Our products, which are manufactured in facilities
located in the USA and Europe, are targeted to selected niche
markets where their unique designs and engineering excellence fill
the needs of our customers and provide a competitive
advantage. We have consistently added to our portfolio of
branded products and equipment both through internal development
and focused acquisitions to diversify and expand our sales and
profit base while remaining committed to our niche market
strategy. Our brands include Manitex, PM, Badger, Sabre, and
Valla. ASV, our Joint Venture with Terex Corporation,
manufactures and sells a line of high quality compact track and
skid steer loaders.
Contact:
Manitex International, Inc.
David Langevin
Chairman and Chief Executive Officer
(708) 237-2060
djlangevin@manitex.com
Darrow Associates, Inc.
Peter Seltzberg, Managing Director
Investor Relations
(516) 419-9915
pseltzberg@darrowir.com
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