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Manitex, Linamar report 2013 gains

Wednesday, 12 Mar 2014 ( #658 ) - Bridgeview, IL, United States and Guelph, ON, Canada
News Story
Manitex Liftking straight-mast forklift
Equipment manufacturers Manitex International Inc and Linamar Corp have delivered positive financial results for 2013.

Manitex International Inc

Bridgeview-based publicly traded Manitex reports its 2013 sales increased 19% and profits climbed 26% from the previous year.

The provider of cranes and specialised materials and container handling equipment reports profit of USD10.2 million on 2013 sales of USD245.1 million versus profit of USD8.1 million on 2012 sales of USD205.2 million.

"We ended 2013 on solid financial footing, with record top-and bottom-line results," says David Langevin, chairman and CEO.

Langevin says that 2013’s higher crane and container handling revenues were "partially offset by a reduction in materials handling (equipment) and specialised trailer revenues", although no product line statistics were reported.

The Manitex Liftking ULC subsidiary in Woodbridge, Ontario, Canada provides materials handling equipment including Noble straight-mast rough-terrain forklifts, Lowry high-capacity cushion-tyred forklifts, specialised carriers, heavy materials handling transporters and steel mill equipment. Commercial operations and military and peace-keeping organisations utilise the subsidiary’s rough-terrain forklifts.

The 2013 report accounts for results from two Manitex acquisitions, effective from 1 December for mobile industrial crane manufacturer Valla SpA of Calendasco, Italy and from 1 October for tank maker Sabre Manufacturing LLC of Knox, Indiana.

Linamar Corp.

Skyjack parent company Linamar reports an 11.6% increase in sales and 57.3% jump in profit for 2013.

The Guelph-based diversified manufacturer recorded a profit of CAD216.1 million (USD202.0 million) on 2013 sales of CAD3.60 billion (USD33.7 billion) versus the previous year’s profit of CAD144.9 million (USD 130.41 million) on 2012 sales of CAD3.22 billion (USD2.90 billion).

Linamar credits industrial segment gains to fourth quarter increases in demand in the access equipment markets in both North America and Europe with increased market share particularly in boom products at Skyjack and higher sales from emerging global markets such as Brazil.

The Skyjack division manufactures mobile industrial equipment including aerial work platforms and telehandlers for use in the construction and access markets.

Linamar has more than 18,000 employees in 42 manufacturing locations, five research and development centres and 15 sales offices in 12 countries.
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