Manitex International, Inc. Expands North American Product Line
October 18 2017 - 2:21PM
Introduces its First Aerial Work Platform
on Standard Commercial Chassis
Manitex International, Inc., (NASDAQ:MNTX), a leading international
provider of cranes and specialized industrial equipment recently
introduced, at ICUEE, the company’s first chassis-mounted aerial
work platform for the North American market. The Manitex-branded
A62, a collaborative development effort between the Georgetown,
Texas-based Manitex crane and the Italian subsidiary Oil &
Steel (which is among the acquired PM product lines) provides 62’
of working height, has an impressive 38’ of side reach and more
than two thousand pounds of payload on a 19,500 lb. class vehicle,
when configured with a service body.
Simultaneous to this introduction, the company also has
reintroduced legacy trolley-boom unloader models 110-26 and 110-35
for delivery of brick and concrete block to new home construction
sites. The 110-26 provides 6,500 lb. capacity at a 25’
radius, while the 110-35 provides 4,000 lb. capacity at a 35’
radius.
Steve Kiefer, President, North America for Manitex
International, commented, “Our introduction of the A62 is
consistent with the Manitex branding strategy and vision to provide
unique and cost-effective solutions for customers in lifting and
aerial applications. This collaborative design effort is
indicative of the ever-increasing efficiency with which
multi-division projects are being accomplished and Manitex
International expects to continue expanding its portfolio of
products available to the North American market from both its
Italy-based R&D resources and its U.S. manufacturing
footprint. Also, the re-introduction of the 110-26 and 110-35
is targeted to satisfy pent-up demand for this time tested, very
efficient unloading product.
“We expect 2018 revenues from these and other new products to
approach $20 Million in 2018, incremental to our growth in
our core crane businesses,” Mr. Kiefer concluded.
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.
Forward-Looking Statement:
Safe Harbor Statement under the U.S. Private
Securities Litigation Reform Act of 1995: This release contains
statements that are forward-looking in nature which express the
beliefs and expectations of management including statements
regarding the Company’s expected results of operations or
liquidity; statements concerning projections, predictions,
expectations, estimates or forecasts as to our business, financial
and operational results and future economic performance; and
statements of management’s goals and objectives and other similar
expressions concerning matters that are not historical facts.
In some cases, you can identify forward-looking statements by
terminology such as “anticipate,” “estimate,” “plan,” “project,”
“continuing,” “ongoing,” “expect,” “we believe,” “we intend,”
“may,” “will,” “should,” “could,” and similar expressions. Such
statements are based on current plans, estimates and expectations
and involve a number of known and unknown risks, uncertainties and
other factors that could cause the Company's future results,
performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such
forward-looking statements. These factors and additional
information are discussed in the Company's filings with the
Securities and Exchange Commission and statements in this release
should be evaluated in light of these important factors. Although
we believe that these statements are based upon reasonable
assumptions, we cannot guarantee future results. Forward-looking
statements speak only as of the date on which they are made, and
the Company undertakes no obligation to update publicly or revise
any forward-looking statement, whether as a result of new
information, future developments or otherwise.
Contact:
Trade and Media:
Manitex InternationalSteve
Kieferskiefer@manitex.com708.237.2065
Investor Relations:
Darrow Associates, Inc.Peter Seltzberg, Managing Director, IR
for Manitex Internationalpseltzberg@darrowir.com516.419.9915
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