BRIDGEVIEW, Ill.,Â April 30, 2014Â /PRNewswire/ –Manitex International, Inc. (NASDAQ: MNTX), a leading international provider of cranes and specialized materials and container handling equipment today announced that Manitex Liftking has been awarded its second significant contract in the past 12 months with the US Navy. The new contract, which has an initial value ofÂ $25.9 millionÂ and options for up to a total ofÂ $38.9 million, is for specialized rough-terrain lift trucks with three different lifting capacities. Deliveries are expected to commence during 2015.
Mark Aldrovandi, Director of Sales for Manitex Liftking commented, “Our commitment to providing unique and innovative niche products resulted in another significant order from a great customer, based on a design that we’ve provided to them for a number of years. In fact, this is the second order from the US Navy for Liftking in the past twelve months, which virtually doubles our business with them, and underscores this customer’s confidence in our products and service.”
Jeff Cockerton, General Manager for Manitex Liftking added, “We are very excited to get this order from the US Navy, which maintains very stringent and demanding product specifications to support their operations in the field. With deliveries starting in 2015, we’re looking forward to layering this new production on top of the current volume we’re doing with this customer, historically one of our top accounts. This program will bring our production schedule for the Navy up to 80-100 units annually.”