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Manitex Intl. to Report Record $83.7 Million Backlog
January 19, 2012–Manitex International, Inc., Bridgeview, Ill., expects to report a consolidated order backlog of $83.7 million as of Dec. 31, 2011—representing an increase of 33 percent from Sept. 30, 2011, a 110 percent year over year increase, and an all-time company high.
A broad-based increase in demand for the company's specialized products, particularly domestically, continues to drive orders. Accordingly, the company has begun to expand its output and is preparing its materials and resource needs within the supply chain for further expansion in 2012.
“Demand for Manitex equipment, particularly our higher tonnage cranes, is being driven by continued activity in the North American energy sector,” said Paul Gibson, general manager of the company's subsidiary, Manitex Inc. “Our introduction of a new cab and crane operating system on the new higher tonnage machines have won immediate acceptance from our customers and provided a strong sales increase. In response to this demand we have expanded our internal North American sales force to sustain our business momentum as we head through 2012 and towards 2013.”
In addition, Manitex Liftking has seen a healthy increase in military orders, which has contributed to the total record corporate backlog.
“Heightened activity in energy and associated construction projects, as well as in domestic and international mining, and rail activity has resulted in strong heavy duty trailer demand and a consequent significant backlog increase at Load King throughout 2011, which has particularly strengthened during the final quarter of the year,” added Ron Clark, general manager of Manitex Load King. “Load King has historically maintained a leading position in these specialized markets with its targeted applications and quality reputation. Our competitive lead-times have provided further impetus to customers to acquire the Load King product. We intend to maintain this momentum with an output increase heading into 2012.”
