United States

Profile: Manitex International Inc (MNTX.PH)

MNTX.PH on Philadelphia Stock Exchange

12 Jul 2019
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Manitex International, Inc., incorporated on October 17, 2003, is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries. In the ASV segment, the Company manufactures a line of compact rubber tracked loaders (CTLs) and skid steer loaders (SSLs). In the Equipment Distribution segment, the Company markets products used primarily for infrastructure development and commercial construction applications that include road and bridge construction, general contracting, roofing, scrap handling, and sign construction and maintenance.

Lifting Equipment Segment

The Company, through its subsidiary Manitex, Inc., markets a line of boom trucks, truck cranes and sign cranes. Its boom trucks and crane products are primarily used for industrial projects, energy exploration and infrastructure development, including roads, bridges and commercial construction.

The Company's subsidiary, PM Group S.p.A. (PM), manufactures truck mounted hydraulic knuckle boom cranes with a product range spanning over 50 models. Its subsidiary, Oil & Steel (O&S), is a manufacturer of truck-mounted aerial platforms with a diverse product line and an international client base.

Manitex Liftking, ULC (Manitex Liftking), a subsidiary of the Company, sells a line of rough terrain forklifts, a line of stand-up electric forklifts, cushioned tired forklifts with lifting capacities from 18,000 to 40,000 pounds and special mission-oriented vehicles, as well as other specialized carriers, heavy material handling transporters and steel mill equipment. Manitex Liftking's rough terrain forklifts are used in both commercial and military applications. The Company's specialized lifting equipment is used in various industries that include the utility, shipbuilding and steel mill industries.

The Company's subsidiary, Badger Equipment Company (Badger), is a manufacturer of specialized rough terrain cranes and material handling products. Badger primarily serves the needs of the construction, municipality and railroad industries.

The Company, through its Italian subsidiary, CVS Ferrari, srl (CVS), designs and manufactures a range of reach stackers and associated lifting equipment, empty container handlers, forklift, straddle carriers and tractors, among others, for the container handling market that are sold through a dealer network. Valla SpA offers a range of precision pick and carry cranes from 2 to 90 tons, using electric, diesel and hybrid power options. Its cranes offer wheeled or tracked and fixed or swing boom configurations.

Manitex Sabre, Inc. (Sabre), a subsidiary of the company, manufactures a line of specialized mobile tanks for liquid and solid storage and containment solutions with capacities from 8,000 to 21,000 gallons. Its mobile tanks are sold to specialized independent tank rental companies and through the Company's existing dealer network. The tanks are used in a range of end markets, such as petrochemical, waste management, and oil and gas drilling.

ASV Segment

ASV's CTLs have operating capacities between 700 pounds and 3,500 pounds. ASV products are distributed through the Terex Corporation (Terex) distribution channels, as well as through the Company and other independent dealers. The products are used in the site clearing, general construction, forestry, golf course maintenance and landscaping industries. Its SSLs have operating capacities between 1,600 pound and 3,200 pounds and are used in material handling, including scrap and waste, and agricultural markets.

Equipment Distribution Segment

The Equipment Distribution segment consists of the operations of Crane & Machinery (C&M), a division of Manitex International, North American Equipment, Inc. (NAE) and North American Distribution, Inc. (NAD). C&M is a distributor of Terex rough terrain and truck cranes, and supplies repair parts for a range of medium to heavy-duty construction equipment and sells domestically and internationally, to end users, including the rental market. It also provides crane equipment repair services in the Chicago area. The segment markets previously owned construction and heavy equipment and trailers both domestically and internationally through NAE. NAE purchases previously owned equipment of various ages and conditions and often refurbishes the equipment before resale. The segment also sells Valla products through NAD.

The Company competes with National Crane, Terex Corporation, Weldco Beales, Elliott, Altec, Palfinger, Fassi, Effer, HIAB, Linamar, Sellick, Harlo, Manitou, Mastercraft, Load Lifter, Broderson, Cargotec, Konecranes, Doosan, Caterpillar, CNH, Gehl, Takeuchi, John Deere, Wacker Neuson, Imperial Crane, Walter Payton Power, Runnion Equipment, Power Equipment Leasing and Guiffre Cranes.

Company Address

Manitex International Inc

9725 Industrial Dr
BRIDGEVIEW   IL   60455-2304
P: +1708.4307500
F: +1708.4301335

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