BRIDGEVIEW, IL / ACCESSWIRE / September, 9, 2019 / Manitex International, Inc. (NASDAQ:MNTX), a leading international provider of cranes and specialized industrial equipment, today announced that it has been awarded a new contract valued at approximately $4.5 million dollars to supply knuckle boom cranes to an international military entity. Initial production is anticipated to start in early-2020, and the contract provides for an optional $4 million dollars in additional deliveries.
This custom Manitex knuckle boom crane has been engineered and configured to the customer's demanding specifications, and has passed a thorough performance testing protocol which lasted several months and included heavy off-road durability and strength testing by the customer.
Randy Wingenroth, SVP - Articulating Cranes for Manitex International added, 'We are proud to receive this contract from one of the world's leading military organizations who maintains very stringent and demanding product specifications for their operations in the field. This contract award provides a solid foundation for military production of articulating cranes at our Georgetown, Texas plant and further supports our growth plans for this location. We look forward to providing equipment that supports the safety, security, and success of our country's and our allies' servicemen and women, here and abroad.'
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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, and railroad 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, Oil & Steel, Badger, Sabre, and Valla. The company also has a minority ownership in ASV Holdings, Inc. which manufactures and sells a line of high-quality compact track and skid steer loaders.
Manitex International, Inc.
President, Chief Operating Officer
Darrow Associates, Inc.
Peter Seltzberg, Managing Director
SOURCE: Manitex International Inc.
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