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BRIDGEVIEW, Ill., July 20, 2017 -- Manitex International, Inc., (NASDAQ:MNTX), a leading international provider of cranes and specialized industrial equipment, today announced orders for Manitex PM for approximately €1.5 million in new cranes from two international customers.
The orders are for a number of different truck-mounted crane products with lifting capacities between 3 and 40 metric tons and are being configured for various uses within the electrical utility sectors for the two customers, one of which represents follow-on business and the other a brand new account for Manitex PM. Initial deliveries are expected in the third quarter of 2017, with the remainder occurring in the fourth quarter of 2017.
“We are excited to announce these new orders for PM, a brand with a reputation of high quality and durability throughout the articulated crane and specialized lifting products categories,” commented Giovanni Tacconi, Sales Director at Manitex PM. “Our team here at PM is working diligently to identify and pursue new sales opportunities for our products. Our partnerships with key international equipment manufacturers such as Mercedes-Benz and Iveco, together with our strong international network of distributors, are increasingly driving the global market expansion of PM, as we execute our plans throughout Manitex.”
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. Manitex owns a minority interest in ASV which manufactures and sells a line of high quality compact track and skid steer loaders.
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.
Company Contact Manitex International, Inc. David Langevin Chairman and Chief Executive Officer (708) 237-2060 [email protected] Darrow Associates Inc. Peter Seltzberg, Managing Director Investor Relations (516) 419-9915 [email protected]
