MANITEX INTERNATIONAL, INC. ANNOUNCES ORDER GROWTH IN FOURTH QUARTER 2019

Backlog expected to gearbox reach $66.2 Million at December 31, 2019, led by 50% Increased gearbox Bookings at slewing drive PM Group

Manitex International, Inc gearbox. (NASDAQ:MNTX), a  motor-reducer leading international provider of cranes slewing drive and specialized industrial equipment, today gearbox announced a strengthening in orders in the fourth motor-reducer quarter that gearbox management slewing drive anticipates will result in slewing bearing a reported backlog of $66.2 million for the period ended December 31, 2019, growing from  gearbox $57.6 million as of September 30, slewing drive 2019.

The recovery in the gearbox backlog was driven motor-reducer primarily by motor-reducer the company’s articulated slewing drive crane group, which saw an increase in slewing bearing orders gearbox during the fourth quarter, with particular strength  motor-reducer from North  motor-reducer America, Western slewing drive Europe and Latin America. Management currently expects to announce a gearbox 50% increase in slewing drive backlog at motor-reducer year end for this product group to gearbox $24.8 million, consisting of PM, gearbox Manitex Articulating Cranes gearbox slewing drive (“MAC”), Tadano-PM slewing bearing branded motor-reducer articulating cranes, Oil gearbox & Steel Aerials, and Valla gearbox industrial Cranes.
 

“While the slewing bearing backlog for our straight-mast motor-reducer crane motor-reducer business decreased 5% due to lower levels of activity in certain parts of the construction markets, progress in executing our North slewing drive American branding and  motor-reducer distribution strategy for the MAC line provided significant year over year growth for our articulated crane business. We slewing drive motor-reducer anticipate growth for the MAC line in motor-reducer North slewing bearing America to continue as we move motor-reducer through 2020,” said Steve Kiefer, President and motor-reducer COO for Manitex International.

“Key slewing bearing organizational and operational improvements slewing drive motor-reducer we have made within the PM slewing bearing Group, to enhance our focus, quality, motor-reducer productivity, and overall financial performance have slewing drive resulted in more meaningful motor-reducer participation in large global growth markets that we have motor-reducer long-identified as key to our company’s slewing drive future success. The slewing bearing three-brand strategy we’ve launched slewing bearing for our articulated cranes, namely PM, MAC, and Tadano-PM motor-reducer, is showing early signs of success and we are closing in on an annualized revenue rate motor-reducer of over $100 million for this group,” said Steve Filipov, Chief Executive slewing drive Officer for Manitex International.

Manitex looks slewing bearing forward to participating in slewing drive the motor-reducer upcoming CONEXPO slewing bearing show, being held in Las Vegas, on March 10-14,motor-reducer  where team leaders will be showcasing new slewing drive MAC-branded products, enhancements motor-reducer to the Manitex line of straight mast slewing bearing cranes, its latest industrial cranes, and the North American debut of the Valla V80R zero emissions pick-and-carry motor-reducer crane slewing bearing. Attendees are encouraged to visit Booth # F6259 for a demonstration.