Valla SpA manufacturing site in Italy

Manitex International Inc completed its acquisition of Valla SpA on 30 November for up to USD1.2 million, to be based on an earn-out provision.

Valla is a mobile industrial crane manufacturer in Calendasco, Italy near Piacenza. An agreement in principle was disclosed on 7 November.

Mario Riva, general manager of Valla, says, "Valla's mobile industrial cranes have an outstanding reputation for quality and a long history of providing highly specialised and customised products for our customers, and we believe that Manitex International brings a strong distribution network and valued resources to the table that will significantly enhance Valla's market position."

Andrew Rooke, Manitex president and chief operating officer, comments, "Valla has a well-established brand name in mobile, industrial cranes, and we are excited to add another outstanding product line to broaden our crane portfolio."

Bridgeview-based Manitex expects Valla operations to be accretive to its earnings in 2014. Valla reported 2012 sales of approximately USD7.5 million.