Manitex’s 2012 report glows; normal replacement cycle may develop

News Story
- 14 Mar 2013 ( #607 ) - Bridgeview, IL, United States
2 min read
Lifting solutions provider Manitex International Inc reports profit improvement of 191% to USD8.1 million on a 2012 sales increase of 44% to USD205.2 million.

"We've established a 2015 sales target of USD350 million excluding any acquisitions," says David Langevin, chairman and chief executive officer.

In the latest annual cycle, higher capacity and specialised boom trucks drove almost 70% of the Manitex year-over-year revenue increase, with Badger specialised trailers and other materials handling equipment contributing strongly.

Manitex says the general economic environment in its North American and European markets reflects limited or no growth, but the company's products for "the energy and power line distribution sectors benefited from the higher levels of activity in these sectors as well as from increased market penetration".

Langevin reports the relative flatness in the commercial sector in recent years may be changing. "It looks like a normal replacement cycle will kick in," he says. "We have not felt the thrust of replacement business", which he believes should grow throughout 2013.

"We think we are in the early stages of the commercial restoration of our markets," he notes. "We have not had an upside since 2006" on the commercial side of the Manitex International business.

"Liftking is one of the companies where we foresee expansion of sales and some improvement in operations (for 2013)," Langevin says.

The Manitex Liftking UTC subsidiary of Woodbridge, Ontario, Canada provides materials handling equipment, including the Noble straight-mast rough-terrain forklift product line, Lowry high-capacity cushion-tyred forklifts, Schaeff electric indoor forklifts and specialised carriers, heavy materials handling transporters and steel mill equipment. Manitex Liftking's rough-terrain forklifts are used in both commercial and military applications.

Manitex says that a significant degree of uncertainty in North America is influencing buying decisions. North American general construction and housing sectors are "steady but still relatively subdued", the company says. "Energy (is) still active (with a) positive outlook".

As of 31 December, Bridgeview-based publicly traded Manitex had an order backlog of USD130.4 million, a 55.7% increase on the 2011 year-end backlog of USD83.7 million.

"Some new technology is coming into play" as Manitex engineers develop new materials handling products", Langevin says. Looking at the marketplace, he hopes to "replace higher cost equipment as we have in the past".
Jungheinrich records ‘resilient’ results
Jungheinrich records ‘resilient’ results 16 Aug 2024 - Hamburg, Germany - 1 min read
KION narrows revenue forecast
KION narrows revenue forecast 8 Aug 2024 - Frankfurt, Germany - 1 min read
Kalmar makes stock market debut
Kalmar makes stock market debut 4 Jul 2024 - Helsinki, Finland, Finland - 1 min read
Previously about:
Manitex completes Valla acquisition News Story - 5 Dec 2013 - Bridgeview, IL, United States - 1 min read
Manitex buys Italian firm, reports higher sales News Story - 14 Nov 2013 - Bridgeview, IL, United States - 1 min read
Briefs News Story - 24 Oct 2013 - 2 min read
Do you have materials handling news? Submit your news here

PREMIUM business

Hawker Powersource, Inc.
HAWKER® offers a range of hybrid motive power solutions customized to adapt as your operation's needs change.

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!

Words of support …

The cooperation with Forkliftaction has been exceptional. It's always a pleasure to work with specialists who know the inside out of the industry

Ane Miren Elorza, Communications Specialist

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Since July 2000, Forkliftaction News has been your guide to the developments that are shaping your industry.

Starting today we are also looking back on some of the key news stories from our extensive news archive.

In the news email and on the website, you'll see links to stories that were 'leading our news' multiple years ago, with topics spanning world-first products, big acquisitions, and major industry shifts.
We hope you enjoy this unique insight into the materials handling industry!

PREMIUM business

Hawker Powersource, Inc.
HAWKER® offers a range of hybrid motive power solutions customized to adapt as your operation's needs change.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

PREMIUM business

Cascade Corporation (World HQ)
Leading manufacturers of attachments, forks and related technologies for forklifts and AGVs.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

It’s the year 2000. You’re in front of a boxy beige desktop waiting for the screeching ramblings of your dial-up to reach its finale. You go to Yahoo!, MSN, or maybe AOL, and start the mind-numbing process of finding your very specific needle in the digital haystack. And with web pages loading one image at a time, patience isn’t just a virtue – it’s a requirement!

As clumsy as this early iteration seems now, this technology was the great enabler that allowed Forkliftaction to connect to the industry across the globe.  

To everyone who has connected with Forkliftaction in the past 25 years, thank you for your contribution to our success! We feel deeply touched by your words of encouragement.

What has Forkliftaction meant to you? Drop us a line.