Court approves Manitex asset purchase

News Story
- 23 Jun 2011 ( #519 ) - Bridgeview, IL, United States
1 min read
A Piacenza, Italy court approved a Concordato Preventivo proceeding for a Manitex International Inc subsidiary's acquisition of certain liquidated CVS SpA assets, Manitex reported on 16 June. Earlier, a majority of CVS SpA creditors voted in favor of the proposed transaction (Forkliftaction.com News #513).

Bridgeview-based Manitex is obligated to assume certain liabilities and pay USD5.1 million in installments over three years without interest. Final documentation to transfer ownership of the assets in Rovoleti di Cadeo, Italy near Milan is anticipated to be completed in the coming weeks.

Manitex subsidiary CVS Ferrari srl began using the assets of the container-handling-equipment operation in July 2010 under a rental agreement.
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Previously about:
Briefs News Story - 12 May 2011 - 6 min read
Italian court gives approval to CVS Ferrari srl News Story - 23 Sep 2010 - Rovoleto di Cadeo, Italy - 2 min read
LANCO buys Liftking from Manitex News Story - 13 Oct 2016 - Toronto, ON, Canada - 2 min read
Manitex adds 20 T telescopic crane News Story - 28 Jul 2016 - Bridgeview, IL, United States - 1 min read
Terex to make CVS Ferrari tractors News Story - 21 Apr 2016 - Roveleto di Cadeo, Italy - 1 min read
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