Market Overview

Manitex International, Inc. Announces TC600 Series Boom Truck Mounted Crane

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BRIDGEVIEW, Ill., July 08, 2019 (GLOBE NEWSWIRE) -- Manitex International, Inc. (NASDAQ:MNTX), a leading international provider of cranes and specialized industrial equipment, today is pleased to introduce the newest model in the next generation TC-series lineup.  The new TC600 features a base rating of 60 tons and a maximum main boom height of 141 feet and a 194-foot maximum height when equipped with an optional jib, expanding the company's heavy-crane product offerings.

The TC600 incorporates a 4-section boom and offsetable lattice style jib utilizing high strength steel and components providing high strength-to-weight ratio for increased capacities at long radius. The TC600 includes a spacious, high-visibility cab and the advanced hydraulics of the Manitex TC line of lift solutions with increased lifting capabilities. Featuring a removable counter-weight system and uniquely designed trapezoid subframe, the TC600 provides added stability and precision control.

Steve Kiefer, President, Chief Operating Officer, added, "We are excited to add the TC600 boom truck to our line of products, supporting the industry's growing need for high-capacity machines. Manitex has consistently been an innovator in meeting end-users' needs for equipment delivering high-value, operator comfort and overall performance. The TC600 is available for immediate sale through the Manitex dealer network, and we are looking forward to displaying the TC600 at the International Construction & Utility Equipment Exposition (ICUEE) in Louisville, KY in early-October and beginning deliveries in the fourth quarter of 2019."

About Manitex International, Inc.

Manitex International, Inc. is a leading worldwide provider of highly engineered mobile cranes (truck mounted straight-mast and knuckle boom cranes, industrial cranes, rough terrain cranes, and railroad cranes), truck-mounted aerial work platforms and specialized industrial equipment. Our products, which are manufactured in facilities located in the USA and Europe, are targeted to selected niche markets where their unique designs and engineering excellence fill the needs of our customers and provide a competitive advantage.  We have consistently added to our portfolio of branded products and equipment both through internal development and focused acquisitions to diversify and expand our sales and profit base while remaining committed to our niche market strategy. Our brands include Manitex, PM, Oil & Steel, Badger, Sabre, and Valla.  The company also has a minority ownership in ASV Holdings, Inc. which manufactures and sells a line of high-quality compact track and skid steer loaders.

Forward-Looking Statements
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company's expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management's goals and objectives and other similar expressions concerning matters that are not historical facts.  In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "will," "should," "could," and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. These factors and additional information are discussed in the Company's filings with the Securities and Exchange Commission and statements in this release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Contact:    
Manitex International, Inc.    Darrow Associates, Inc.
Steve Kiefer    Peter Seltzberg, Managing Director
President, Chief Operating Officer    Investor Relations 
(708) 237-2065          (516) 419-9915
skiefer@manitexinternational.com    pseltzberg@darrowir.com

 

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