Ads
News service and business centre for materials handlingHOME
/lynad/news_adclick.asp?assid=19992/lynad/news_adclick.asp?assid=19993/lynad/news_adclick.asp?assid=19994/lynad/news_adclick.asp?assid=19995/lynad/news_adclick.asp?assid=19996
Ads
7339

Manitex broadens line with Badger acquisition


Wednesday, 15 Jul 2009 ( #419 ) - Bridgeview, IL, United States
News Story
The Badger brand is now part of the Manitex stable
Manitex International Inc has acquired Badger Equipment Co from Avis Industrial Corp for USD3 million, in part to add new rough-terrain cranes under the Badger brand to the growing family of Manitex products.

Terms of the 10 July acquisition included USD250,000 in Manitex common stock and a USD2.75 million five-year note bearing interest at 6%.

In early 2009, Badger Equipment introduced its line of high-quality rough-terrain cranes, including a model with lifting capacity up to 60,000 pounds (27,000 kg).

Manitex intends to maintain Badger Equipment manufacturing operations at Badger’s leased Winona, Minnesota facility and to operate the business as a Manitex subsidiary, says David Langevin, chairman and chief executive officer of Bridgeview-based Manitex.

"The acquisition of Badger’s specialised product lines will expand our market opportunities through offering new product lines to our current dealers and expanding our dealership network," Langevin notes. Regarding the new cranes, "we will begin to ship against orders in-hand in this current quarter" ending 30 September.

Badger Equipment employs 50 people, occupies 175,000 square feet (15,750 sqm) and has reported annual sales of USD10 million from manufacturing of specialised earthmoving, railroad and material handling equipment to dig, trench, grade, clear, load and lift objects. A Badger division, Cullen-Friestedt Lifters, began making branded products in 1907. Badger was formed in 1945.

Upland, Indiana-based Avis Industrial is a diversified privately owned women’s business enterprise. Among Avis Industrial’s remaining seven subsidiaries is Sellick Equipment Ltd of Harrow, Ontario, Canada, a manufacturer of rough terrain forklifts and attachments.

Publicly traded Manitex reported a profit of USD61,000 on sales of USD14 million for the first quarter ended March 31. Manufacturing occurs in Bridgeview; Georgetown, Texas; and Woodbridge, Ontario, Canada.  Manitex acquired the assets of electric forklift manufacturer Schaeff Lift Truck Inc and equipment distributor Crane & Machinery Inc from GT Distribution LLC on 6 October 2008.
Discuss Forkliftaction.com News stories in the Discussion Forums!
 
x
©Forkliftaction.com
Forkliftaction Media Pty Ltd
PO Box 1439
Milton QLD 4064
Australia
Contact Forkliftaction.com
About Forkliftaction
The Forkliftaction Team
Privacy Policy
Site Map
Help
Business Directory
Discussion Forums
Industry News
Events Calendar
Jobs & Resumes
Photo Galleries
Blog articles
Our Bloggers

Industry Brands
Company Index
Regions & Countries
Machinery-onQ.com

Advertise on Forkliftaction
Editorial Features / Calendar
Featured Businesses
Past News Editions
Industry Associations
Storing your login information automatically.

When you select the 'Remember me' option, your login information will be stored on your computer in the form of a cookie. When you visit Forkliftaction.com again, the stored login information will be retrieved automatically and you will not have to submit your login parameters (email address and password) each time you want to visit our members-only pages.

A cookie is a small piece of data that is sent to your browser from a web server and stored on your computer's hard drive. A cookie can't read data off your hard disk or read cookie files created by other sites. Cookies do not damage your system.

x