News story

Manitou to boost R&D spending

Thursday, 16 December 2004 ( #188 ) - ANCENIS, France
Manitou will boost research and development spending by 40 per cent following production of its 200,000th forklift last month. Manitou's first forklift left the factory in Ancenis, western France, in 1958. Additional research and development funding would help Manitou expand its forklift range and enhance its presence in the construction, agriculture and industrial sectors, a company statement said. The company aims to increase the number of Manitou units in operation from 14,000 to 20,000 by 2010, with 40 per cent used in construction and 30 per cent each in agriculture and industry. The 200,000th forklift, a Manitou MI 70 H yard truck, was donated to the International Red Cross by company president Marcel Claude Braud. "I call on you to join me in subscribing to a new challenge - to produce and sell our 300,000th Manitou forklift by 2010," Braud said at a ceremony in Paris. Manitou also revealed a new, modernised corporate identity and logo, and launched a limited edition "200,000th Series" Maniscopic telescopic handler range at the ceremony.