Manitex International, Inc. Receives $13.5 Million in New Orders

Manitex, Inc. Receives Orders for $11.5 Million

Manitex Liftking Adds $2 Million Order

Mar 02, 2011, 11:01 ET from Manitex International, Inc.

BRIDGEVIEW, Ill., March 2, 2011 /PRNewswire/ -- Manitex International, Inc. (Nasdaq: MNTX), a leading provider of engineered lifting solutions including boom truck cranes, rough terrain forklifts, container handling equipment and special mission oriented vehicles, announced today that Manitex, Inc., its Georgetown, Texas-based boom truck subsidiary, has recently received orders totaling over $11.5 million. The Manitex, Inc. orders are placed for second and third quarter 2011 shipments throughout North America. Manitex Liftking, based near Toronto, Canada, has also received $2.0 million in orders for an international specialized transporter system and military material handling equipment. The Manitex Liftking orders are with existing international customers and are expected to ship in the fourth quarter of 2011.

While weighted toward the energy sector, the Manitex, Inc. orders were placed by seven different customers serving diverse market segments that include general construction, rental fleet additions and retail sales to the Mexican market. Receipt of these orders increases the Manitex, Inc. boom truck backlog to its highest level since August 2008. The orders for Manitex Liftking are for supply to Latin America and the US military, with the transporter system reflecting a return into this highly specialized market since the past two years when demand had been particularly subdued.

Scott Rolston, Senior Vice President of Sales and Marketing for Manitex International, said, "These orders validate the market's continued confidence that Manitex supplies superior product not only for the energy and military segments and other diverse niche markets, but also  that it continues to recognize our growing international presence and capabilities. These new orders, combined with our bookings in the fourth quarter of 2010, add to our optimism that our markets will continue to show substantial recovery well into 2011 and beyond."

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.  In June 2010, we signed an agreement to operate on an exclusive rental basis, CVS Ferrari, located near Milan, Italy, which designs and manufacturers a range of reach stackers and associated lifting equipment for the global container handling market, sold through a broad dealer network.

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

(646) 415-8972

SOURCE Manitex International, Inc.