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Manitex Intl. Reports 25 Percent Quarterly Increase in Backlog to $63 Million

Manitex Intl., Inc., Bridgeview, Ill., is expected to report a consolidated order backlog of $63.1 million as of September 30, 2011 — an increase of 25 percent from June 30 2011, and an increase of 58 percent year to date. According to the company, the total of $63.1 million is at an all-time high. Manitex will report its full consolidated quarterly results on November 9.

"During the third quarter we experienced not only an increase in demand for our specialized boom truck cranes, but also a broad-based increase in demand for our specialized niche products, both domestically and internationally,” said Andrew Rooke, Manitex International president and COO. “While non-US demand remained strong during the period, particularly in Canada, it was encouraging additionally to see an upturn in orders from our domestic, U.S. customers. Responding to the steady increase in demand we are experiencing in 2011, we have selectively increased our output, and we are working with our supply chain to position ourselves for further expansion next year."

Paul Gibson, general manager of the company's subsidiary, Manitex Inc., added, "The accelerating order intake in the third quarter for our Manitex boom truck cranes was driven by key U.S. and Canadian dealers in our network who are focused on the expanding oil and gas and power line construction sectors, providing cranes for extraction and field services as well as specific infrastructure expansion. We are pleased to see this positive response to our investments in targeted product development projects during the past 12 months. Further product development is ongoing, notably with the recent launch of our new cab and crane operating system, and the certification of our high reach 50-ton crane for New York City, and from initial customer responses we have received, we anticipate these will help maintain Manitex's competitive position."


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