Michel Denis

Manitou CEO Michel Denis has presented a new roadmap for the group, which includes a restructure that will enable it to exploit opportunities for the group's future success. Denis says: "This strategy will firmly focus on the value provided to our customers while strengthening our leadership, growth and profitability. The new organisation will offer a positive operating impact while benefiting our customers with a less complex as well as a more responsive organisation." The group will be organised into three divisions: two product divisions and a service division. The Material Handling and Access product division will manage the French and Italian production sites manufacturing Manitou-branded telehandlers, rough-terrain and industrial forklifts, truck-mounted forklifts and aerial work platforms. The Compact Equipment product division will optimise the development and production of skid steer loaders, track loaders, articulated loaders, and Gehl and Mustang telehandlers. The Services & Solutions division will cover service activities to support sales, after-sales and services to end-users. Manitou's sales and marketing organisation will distribute the products and services designed and assembled by the three divisions to dealers and key accounts in 120 countries. The new organisation presented to the Works Council will be implemented from July over 10 months. Further details of the company's strategic objectives, tactical approach and operational plan will be presented at its annual general meeting on 5 June. Separately, the group is celebrating the 30th anniversary of its IPO this year. Manitou opened its share capital on the stock market in 1984. Today, 65% of the company's share capital remains held by the founding family and 35% is traded on the stock market. According to the company, shares which launched at about 1 euro have experienced 12-fold growth in value in 30 years.