Manitex Bags $18M Order For Oil & Steel Aerial Platforms In Italy

Manitex International Inc (NASDAQ:MNTX) has secured an order worth ~$18 million for Oil & Steel aerial platforms from a major utility company in Italy. The company plans to begin product delivery in the second half of 2022.
Oil & Steel, part of Manitex's subsidiary PM Group, has an installed base of over 1,000 machines in Italy with customers in the utility sector.
"This record order underscores the work we've done improving the quality, cost, and delivery of product across our European businesses. In addition, we recently received a significant order, worth over $3 million, from the same customer for knuckle boom cranes.," commented CEO Steve Filipov.
Price Action: MNTX shares are trading higher by 4.12% at $6.82 on the last check Wednesday.