Manitex International, Inc. Launches New Rough-Terrain Crane
BRIDGEVIEW, Ill., Sept. 10 /PRNewswire-FirstCall/ — Manitex International, Inc. (Nasdaq: MNTX), a leading provider of engineered lifting solutions including boom truck cranes, rough-terrain forklifts and special mission oriented vehicles, today announced that its Badger Equipment Co. subsidiary has begun full production of a new 30-ton cab-down style rough-terrain crane and has received seven initial orders totaling approximately $3.0 million from crane dealers and railroad equipment distributors. The first delivery of the new crane will commence during September 2009. Badger unveiled and demonstrated the new rough-terrain crane to numerous dealers and customers at its facility in Winona, Minn., on September 9. This product, and the entire product line, will continue to be sold under Badger’s existing brand names, which enjoy a reputation of efficient and superior functionality.
Paul Marxen sales manager for Badger Equipment, commented, “The 30-ton cab-down style rough-terrain crane is targeted to niche markets such as railroads, refineries, bridge contractors and heavy industrial users. A unique feature for railroad equipment managers is the ability to have high rail gear integrated at the factory, which simplifies their buying process and reduces lead time to get the crane into the field. It’s a product that we are confident will be met with great enthusiasm by our customers and will find solid demand in the marketplace.”
“Response been very positive and there is significant demand for this new crane as evidenced by the strong initial order pipeline,” said T.A. Lee, General Manager of Badger Equipment. “As customers see more of this crane operating in the field we believe this demand will translate into further orders for 2009 supporting our quarter four targets.”
Scott Rolston SVP, Sales and Marketing for Manitex International concluded, “The Company has plans to develop a full product line in the near future designed to support the requirements of our customers in this niche. The Badger brand rough-terrain crane now partners with a product line of rail-mounted truck and crawler cranes currently produced by Badger in Winona under the Little Giant brand name. We are exploring opportunities with both brands to take advantage of synergies in distribution with our Manitex truck-mounted crane line.”
The new Badger cranes will feature a six-sided boom, Tier III Cummins engine, two door high visibility cab and standard all-wheel drive/steer, and crab steering. The optional Hi-Rail gear system will be fully integrated for easy adaptation in rail applications.
About Manitex International, Inc.
Manitex International, Inc. is a leading provider of engineered lifting solutions including cranes, rough-terrain forklifts, indoor electric forklifts and special mission oriented vehicles, including parts support. Our Manitex subsidiary manufactures and markets a comprehensive line of boom trucks and sign cranes through a national and international dealership network. Our boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges, and commercial construction. Our Crane and Machinery division is a Chicago based distributor of cranes including Terex truck and rough-terrain cranes, Fuchs material handlers and our own Manitex product line. Crane and Machinery provides after market service in its local market as well as being a leading distributor of OEM crane parts, supplying parts to customers throughout the United States and internationally. Our Manitex Liftking subsidiary is a provider of material handling equipment including the Noble straight-mast rough-terrain forklift product line, Lowry high capacity cushion tired forklift and Schaeff electric indoor forklifts as well as specialized carriers, heavy material handling transporters and steel mill equipment. Manitex Liftking’s rough-terrain forklifts are used in both commercial and military applications. In July 2009, we acquired through a stock purchase, Badger Equipment Company, a Winona, Minnesota-based manufacturer of specialized rough-terrain cranes and material handling products.
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Company Contact Manitex International, Inc. Hayden IR David Langevin Peter Seltzberg Chairman and Chief Executive Officer Investor Relations (708) 237-2060 212-946-2849 firstname.lastname@example.org email@example.com
SOURCE Manitex International, Inc.