Manitex Backlog Increases 59 Percent

Manitex International, Bridgeview, Ill., reports it has a consolidated order backlog of $133 million, as of March 31, 2012. This is a 59 percent increase from December 31, 2011, a 179 percent year-over-year increase, and it represents another all-time high for the company and the eighth successive quarterly increase.

Robust demand for Manitex boom trucks continues to lead the backlog higher, and the company is also seeing continued strength in the demand for its other specialized products. As previously reported, in the fourth quarter of 2011, the company began activity to increase output at its key facilities in conjunction with its supply chain for further expansion in 2012 to support the growing customer demand. The current backlog calls for products to ship throughout 2012 and into early 2013.

Andrew Rooke, president and COO for Manitex International said: "The order intake for the quarter was exceptionally strong and is being driven by demand for specialized products for the energy sector. While Manitex boom trucks represent the major part of this backlog, we have also been successful in securing increased orders in other parts of our portfolio.” He added that Load King is benefiting from high levels of demand from the energy sector for both standard and specialized trailers, and CVS Ferrari has secured a $4 million international order for terminal tractors. “

“We remain focused on ramping up production, particularly at Manitex, to ensure that our product deliveries keep up with the pace of customer demand and to drive steady increases in our quarterly revenues throughout the year,” Rooke said.