Manitex International, Inc. Announces PM Group Expansion

BRIDGEVIEW, IL -- (Marketwired) -- 11/09/15 -- Manitex International, Inc. (NASDAQ: MNTX), a leading international provider of cranes and specialized material and container handling equipment, today announced that its subsidiary PM Group, the leading Italian truck mounted cranes and aerial platform manufacturer, specializing in knuckleboom mobile cranes, has opened a new subsidiary, PM Middle East, in the Jebel Ali Free Zone in Dubai, strengthening its presence in the region.

PM Middle East will directly operate in the Middle East and East African markets through a team of experienced professionals in the lifting sector bringing sales, marketing and service support to local customers and providing a comprehensive portfolio of brands including Manitex, Valla, Oil & Steel and Badger. The opening in the Middle East, our 10th international sales and distribution facility, further expands PMs global presence into an important geographic market, joining other active PM subsidiaries located in Europe (Spain, France, England, Germany), Far East (Singapore) and Latin America (Argentina, Chile, Mexico).

"The Middle East region is extremely dynamic and presents a healthy demand of lifting equipment from a number of sectors especially the construction industry," said Luigi Fucili, PM Group CEO. "The opening of PM Middle East continues the process of internationalization that PM Group has undertaken for several years, and brings us closer to an important group of customers in this part of the world, so we can provide the level of dealer and customer services that are required to be a significant market participant here. Through this office we will be able to guarantee a prompt delivery of a wide range of Manitex equipment, and spare parts, thanks to the local storage directly managed by PM Middle East staff, and a full after sales support team."

David J. Langevin, Chairman and CEO of Manitex International, Inc., commented, "The expansion of PM into this new region, provides us with the opportunity to aggressively push into new markets and reach new customers with all of our products. PM sales to the Middle East were sharply higher this year, and our strengthening presence there should enable continued future growth in that region. A key objective we had in making this acquisition last year was to leverage PMs growing international presence to cross-sell our products throughout the world, and we look forward to seeing this through and positioning our company for a future of diversified growth."

About Manitex International, Inc.

Manitex International, Inc. is a leading worldwide provider of highly engineered specialized equipment including boom trucks, cranes, container handling equipment and reach stackers, rough terrain forklifts, and other related equipment. Our products, which are manufactured in facilities located in the USA, Canada, and Italy, are targeted to selected niche markets where their unique designs and engineering excellence fill the needs of our customers and provide a competitive advantage. We have consistently added to our portfolio of branded products and equipment both through internal development and focused acquisitions to diversify and expand our sales and profit base while remaining committed to our niche market strategy. Our brands include Manitex, CVS Ferrari, PM, Badger, Liftking, Load King, Sabre, and Valla. ASV, our Joint Venture with Terex Corporation, manufactures and sells a line of high quality compact track and skid steer loaders.

Contact:

Manitex International, Inc.
David Langevin
Chairman and Chief Executive Officer
(708) 237-2060
Email Contact

Darrow Associates, Inc.
Peter Seltzberg
Managing Director
Investor Relations
(516) 510-8768
Email Contact

Source: Manitex International

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