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Manitex International Announces Record $133 Million Backlog

Manitex International, a provider of boom truck cranes, rough terrain forklifts, container handling equipment and special mission-oriented vehicles, this week said it has a consolidated order backlog of $133 million as of March 31, an increase of 59 percent compared to Dec. 31, 2011. The backlog is a 179-percent year-over-year spike and Manitex’s eighth consecutive quarterly increase.

Robust demand for Manitex boom truck cranes leads the backlog, and the company is also seeing strength in demand for its other products. As previously reported, in the fourth quarter of 2011, Manitex began activity to increase output at its key facilities in conjunction with its supply chain for further expansion in 2012 to support growing customer demand.

The current backlog calls for products to ship into early 2013.

“The order intake for the quarter was exceptionally strong and is being driven by demand for specialized products for the energy sector,” said Andrew Rooke, president and chief operating officer for Manitex International. “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. In particular, Load King is also benefiting from the high levels of demand from the energy sector for both standard and specialized trailers, while CVS Ferrari has just secured a $4 million international order for terminal tractors.”

Company officials added that demand for higher tonnage cranes is growing, driven by continued activity in the North American energy sector.

Manitex International is based in Bridgeview, Ill.

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