RERMAG

Manitou Posts 35-Percent Year-Over-Year Increase

French material handling manufacturer Manitou posted €310 million (about U.S. $408 million) in fourth-quarter revenue, a 27-percent year-over-year increase compared with the fourth quarter of 2010. Full-year 2011 revenue was €1.13 million (about U.S. $1.49 million), a 35-percent year-over-year increase.

“Q4 is a great finish for our 2011 recovery, despite the difficult operational environment,” said Jean-Christophe Giroux, president and CEO. “Interestingly, we’re halfway through our 2007 peak (€1,593 million) and our 2009 trough (€684 million). Order intake has been strong again and our current backlog provides a fair visibility into 2012, which we see growing again by 10 to 15 percent over 2011. The economic situation is still very volatile, across countries or segments. We do our best to stay agile and grab opportunities while watching all possible slowdown signals.”

Manitou’s industrial material handling division posted a 23-percent year-over-year jump.

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