Manitex International Announces First Deliveries of New Articulated Truck Mounted Crane From PM Group

BRIDGEVIEW, Ill.--(BUSINESS WIRE)-- Manitex International, Inc. (Nasdaq: MNTX) ("Manitex" or the "Company"), a leading international provider of truck cranes, specialized industrial equipment, and construction equipment rental solutions to infrastructure and construction markets, today announced the first deliveries of the recently launched PM 70.5 SP articulated truck mounted crane.

The new 70.5 SP articulated crane is the latest enhancement to PM Group’s 65 series of articulated cranes with applications for the global market. The 70.5 SP is multi-industry capable, serving heavy industrial, infrastructure, concrete and general construction. The new offering from PM Group is initially being sold in Europe and will be available in North America next year.

“I am extremely proud of our engineering team, who developed the PM 70.5 SP with their typical rigorous design and testing processes, enabling us to deliver another high-quality offering to the market,” said Giovanni Tacconi, Managing Director PM Group (Manitex Italy). “We delivered five 70.5 SP cranes in Italy during the first quarter 2024 and we expect momentum to quickly build through the year.”

“A key component of our Elevating Excellence strategy is to expand our distribution of PM Group products in North America, and the PM 70.5 SP is the first of several new product offerings that will be integral to us achieving this goal,” stated Michael Coffey, Chief Executive Officer of Manitex. “This innovative new product will enable us to expand our addressable market and should contribute to further market penetration and service into North America.”

ABOUT MANITEX INTERNATIONAL

Manitex International is a leading provider of mobile truck cranes, industrial lifting solutions, aerial work platforms, construction equipment and rental solutions that serve general construction, crane companies, and heavy industry. The company engineers and manufactures its products in North America and Europe, distributing through independent dealers worldwide. Our brands include Manitex, PM, Oil & Steel, Valla, and Rabern Rentals.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240404869126/en/

IR CONTACT

Paul Bartolai or Noel Ryan

MNTX@val-adv.com

Source: Manitex International, Inc.