Approximately 70% of Total Orders to be Shipped to Military Customers

Delivery Expected in First Half 2010

BRIDGEVIEW, Ill., Feb. 8 /PRNewswire-FirstCall/ -- Manitex International, Inc. (Nasdaq: MNTX), a leading provider of engineered lifting solutions including boom truck and rough terrain cranes, rough terrain forklifts specialized trailers and special mission oriented vehicles, today announced receipt of three orders valued at $4.0 million for shipment during the first half of 2010.  Approximately $2.8 million of the total is for the Company's specialized military forklift products, and $1.2 million is for the Company's Badger rough terrain and truck cranes.

Mark Aldrovandi, who is responsible for Manitex Liftking's international and military forklift sector, commented, "This $2.8 million in new orders for specialized forklifts are repeat orders from the United States military, a customer that values the high quality specialized products, support and service that the Manitex Liftking organization provides them. These forklifts are due for shipment at the end of the second quarter of 2010 and we are hopeful that our ongoing efforts to support the military and other international organizations with their specific requirements around the globe will result in further orders in due course."

Scott Rolston, Senior Vice President, Sales And Marketing, Manitex International, commented, "We are very pleased with the continued success of Badger, not only with the new rough terrain crane but also with the Little Giant range of truck cranes. Our efforts since the acquisition, in July 2009, have focused on the successful launch of the new rough terrain crane and leveraging marketing and distribution channels across the whole crane division wherever possible, and we believe we are making good progress in this area. These new orders for $1.2 million are testament to the strength of the Badger product in providing superior return on investment for our targeted customers, in this instance in the rail and power generation sectors. We hope that our ongoing product development and sales and marketing initiatives continue to generate opportunities in these and our other business sectors both domestically and internationally."

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 and on December 31, 2009 we acquired the operating assets of Load King Trailers, an Elk Point, South Dakota manufacturer of specialized engineered trailers and hauling systems.

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.

SOURCE Manitex International, Inc.

Back to top

RELATED LINKS
http://www.manitexinternational.com