Manitex Announces International Orders and Specialized Forklift Contract

Manitex International, Bridgeview, Ill., reported that Manitex Liftking has received orders for specialized forklifts for the U.S. and international armed forces and an international agency. The total value of the contract together is approximately $12.6 million. The company also announced that shipments of specialized forklifts in the fourth quarter of 2009 are expected to total about $6 million; these sales will be a strong contributor to Manitex's fourth quarter financial results.

Bob Litchev, president of material handling operations for Manitex International, said Manitex Liftking military and specialized forklift franchise has accounted for as much as 8-10 percent of group sales under normal trading conditions. "Orders from the military have been an important component of the Liftking business, and we continue to strive to maximize our share of this market segment,” he said. “We are particularly pleased to have been able to extend our forklift product offering to other new international customers and secure our first long-term contract with an international agency.”

Under the three-year contract, Manitex Liftking will supply the completed units and spare parts. There is also a two-year extension option.

Mark Aldrovandi, who is responsible for military, government and international agency sales for Manitex Liftking, said the company has been able to leverage its experience with the U.S. and Canadian military with new international customers in Europe and a key international agency. “We expect that this contract will be a platform from which we can continue to grow our presence in these markets,” he said.