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Manitex International, Inc. Announces New Distribution Agreements in The United Arab Emirates and the Kingdom of Saudi Arabia

Posted on: Monday, 9 November 2009, 08:39 CST

BRIDGEVIEW, Ill., Nov. 9 /PRNewswire-FirstCall/ -- Manitex International, Inc. (Nasdaq: MNTX), a leading provider of engineered lifting solutions including boom truck cranes, rough terrain cranes, rough terrain forklifts and special mission oriented vehicles, today announced a distribution agreement with Darwish Bin Ahmed & Sons (DBA), a well diversified corporation with operations or distribution in 35 countries for distribution of the entirety of Manitex's crane product line throughout the emirates of Abu Dhabi & Al Ainand and The Kingdom of Saudi Arabia. Additionally, Manitex International also reached agreement for distribution throughout Dubai and the Northern Emirates with United Motors & Heavy Equipment L.L.C., also a part of DBA Group. Both of these dealers are authorized sellers of German manufactured MAN trucks, which are recognized worldwide leaders in vocational truck chassis, which will be exclusively used with the Manitex cranes.

Scott Rolston, SVP of Sale and Marketing for Manitex International, Inc. commented, "Our international market expansion efforts have been successful, as we have thus far in 2009 realized a 100 percent increase in the business we do outside of North America compared to all of last year. We have received significant original stocking orders with this new customer. And with this new agreement, we believe that there is opportunity for us to double that percentage again in 2010/2011. We look forward to providing our quality products and technology to the DBA Group and enabling them to continue to better serve their customers' specialty equipment needs."

Throughout 2009, the joint introductions by Manitex and DBA of five Manitex crane platforms into the region have been met with outstanding customer reviews and dealer feedback. With this formal agreement, it is expected the entire Manitex product line will become available through the United Arab Emirates and the Kingdom of Saudi Arabia in 2010.

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.

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. Hayden IR David Langevin Peter Seltzberg Chairman and Chief Executive Officer Investor Relations (708) 237-2060 212-946-2849 djlangevin@manitexinternational.com peter@haydenir.com

SOURCE Manitex International, Inc.

Source: PR Newswire

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