SOURCE: Manitex International

Manitex International

November 02, 2016 14:50 ET

Manitex International, Inc. Announces New Product Launches

TM200 and PL74 Provide 20-ton Lifting Capacity and Cargo Haul Space for Diverse Construction Market Applications

BRIDGEVIEW, IL--(Marketwired - Nov 2, 2016) - Manitex International, Inc. (NASDAQ: MNTX), a leading international provider of cranes and container handling equipment, today announced that assembly and shipment of two new Manitex crane products have begun at its Georgetown, Texas facility, for the TM200 and PL74 cranes, in support of the strengthening construction markets. The TM200 is a 20-ton tractor-mounted boom crane targeted to truss and general trailer-transport needs. The PL74 is a truck mounted knuckle crane used to transport palletized loads, with this configuration being popular in the dry-wall and roofing supply markets. These products both lift and haul cargo and are ideally suited to serve general construction for truss transport and placement, dry-wall distributors, and roofing contractors.

David J. Langevin, Chairman and CEO of Manitex International, Inc., commented, "Thanks to our global acquisition strategy and our commitment to innovative product development and R&D, we are in the position to announce today the fulfillment of our strategic objective to launch knuckle boom crane assembly in our Georgetown facility. With the PL74 integrated crane assembly and chassis installation now being done in our Texas facility, Manitex has established a differentiated, customer-focused and localized solution by performing the crane assembly, chassis installation, service, and support of this product category, an area of growth that we identified when we purchased PM Group in early 2015. We remain excited about expanding our participation in the knuckle boom market, and bringing this and additional crane models into production at Georgetown."

Steve Kiefer, EVP, Sales and Marketing, added, "We are confident that production-assembly of the PL74 wallboard cranes and chassis integration in a U.S. manufacturing facility offers exceptional value to our customers, reducing the cost of the equipment and improving our ability to service our customers with faster response time for option and parts fulfillment, improving product performance, and optimizing the quality of the integrated crane and chassis."

Initial orders have begun shipping in the fourth quarter to Manitex dealers serving both commercial and residential construction market end-users.

About Manitex International, Inc.

Manitex International, Inc. is a leading worldwide provider of highly engineered specialized equipment including boom trucks, cranes, container handling equipment and reach stackers, and other related equipment. Our products, which are manufactured in facilities located in the USA and Italy, 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, CVS Ferrari, 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.

Forward-Looking Statements

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 Information

  • Contact:

    Manitex International, Inc.
    David Langevin
    Chairman and Chief Executive Officer
    (708) 237-2060
    Email Contact

    Darrow Associates, Inc.
    Peter Seltzberg, Managing Director
    Investor Relations
    (516) 419-9915
    Email Contact