BRIDGEVIEW, Ill., Dec. 30 /PRNewswire-FirstCall/ -- Manitex International, Inc. , a leading provider of engineered lifting solutions including boom truck cranes, rough terrain forklifts and special mission oriented vehicles, today announced the CE mark certification for its 40 and 50 ton boom truck cranes, opening the way for the distribution of these products into central and eastern Europe. At the same time, the Company announced availability of new value-added features that will be standard on its 50-ton taxi cranes that will provide easier setup and better load management for the sole operator. The jib-jack, offered as a standard value-added feature, will lower operation and overhead costs for equipment operators and rental fleets alike. Manitex has also added a "no-free-swing" option for the 50-ton product specifically designed for oil field service and power grid applications.
Andrew Rooke, President and Chief Operating Officer of Manitex International, commented, "The certification with the CE mark of our 40 and 50 ton cranes opens the European market to our distribution and provides additional competitive support in markets where certification is preferred but not mandatory. Direct marketing, as well as the identification of suitable European dealers, has already commenced and we believe our cranes will provide a competitive solution against European truck cranes traditionally used in these territories. The announcement of enhancements to our 50 ton crane expands the versatility of our products and effectively addresses the needs of distributors and the equipments' end-users in our marketplace. We want to help our customers do business, and these features make it easier and more profitable for them to operate our product, which will help their competitive position particularly during this period of economic slowdown and uncertainty. Standardizing these features strengthens our product lines and increases our value as supplier to our dealers. We believe this also positions us to increase our participation in the infrastructure build out initiatives that are now being discussed as part of the proposed economic stimulus packages for 2009."
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 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.
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 or Brett Maas
Chairman and Chief Executive Officer Investor Relations
(708) 237-2060 212-946-2849
djlangevin@manitexinternational.com peter@haydenir.com