BRIDGEVIEW, IL / ACCESSWIRE / September 21, 2022 / A leading international provider of truck cranes, specialized industrial equipment, and construction equipment rental solutions, today announced that it has received a continuation order valued at up to $3 million, for articulated cranes, from an international military agency. The order represents follow-on business to an established international military customer, meeting rigid specifications and with lifting capacity to 42 tons.
Michael Coffey, CEO of Manitex commented, 'Earlier this year, Manitex successfully completed the final delivery of articulated cranes to this customer, and we are pleased to announce the addendum to the original order and our customer's vote of confidence in our product solutions. The Manitex articulated lift solutions will be assembled and shipped from our Georgetown, Texas facility with internal supply from Manitex global operations in Italy and Romania. Delivery is scheduled to occur sequentially during the next year.'
With a reported a backlog of $214 million as of June 30, 2022 and subject to market conditions and the supply chain, management anticipates that net sales, gross margins, Adjusted EBITDA, and Adjusted Net Income for the full year 2022 will all compare favorably to 2021, and that continued growth is expected into 2023.
About Manitex International, Inc.
Manitex International, Inc. is a leading worldwide provider of highly engineered mobile cranes (truck mounted straight-mast and knuckle boom cranes, industrial cranes, rough terrain cranes, truck mounted aerial work platforms and specialized industrial equipment. Our products, which are manufactured in facilities located in the USA and Europe, 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, PM, MAC, Oil & Steel, Valla, and Rabern Rentals.
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Manitex International, Inc.
Chief Financial Officer
SOURCE: Manitex International, Inc.
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