Manitex International, Inc. Expands North American Product Line

Introduces its First Aerial Work Platform on Standard Commercial Chassis

Re-introduces Trolley-boom Unloader Line

BRIDGEVIEW, Ill., Oct. 18, 2017 -- Manitex International, Inc., (NASDAQ:MNTX), a leading international provider of cranes and specialized industrial equipment recently introduced, at ICUEE, the company’s first chassis-mounted aerial work platform for the North American market. The Manitex-branded A62, a collaborative development effort between the Georgetown, Texas-based Manitex crane and the Italian subsidiary Oil & Steel (which is among the acquired PM product lines) provides 62’ of working height, has an impressive 38’ of side reach and more than two thousand pounds of payload on a 19,500 lb. class vehicle, when configured with a service body.

Simultaneous to this introduction, the company also has reintroduced legacy trolley-boom unloader models 110-26 and 110-35 for delivery of brick and concrete block to new home construction sites.  The 110-26 provides 6,500 lb. capacity at a 25’ radius, while the 110-35 provides 4,000 lb. capacity at a 35’ radius.

Steve Kiefer, President, North America for Manitex International, commented, “Our introduction of the A62 is consistent with the Manitex branding strategy and vision to provide unique and cost-effective solutions for customers in lifting and aerial applications.  This collaborative design effort is indicative of the ever-increasing efficiency with which multi-division projects are being accomplished and Manitex International expects to continue expanding its portfolio of products available to the North American market from both its Italy-based R&D resources and its U.S. manufacturing footprint.  Also, the re-introduction of the 110-26 and 110-35 is targeted to satisfy pent-up demand for this time tested, very efficient unloading product. 

“We expect 2018 revenues from these and other new products to approach $20 Million in 2018,  incremental to our growth in our core crane businesses,” Mr. Kiefer concluded.

About Manitex International Inc.:

Manitex International, Inc. is a leading worldwide provider of highly engineered specialized equipment including boom trucks, cranes, and other related 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, Badger, Sabre, and Valla. 

Forward-Looking Statement:

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:

Trade and Media:

Manitex International
Steve Kiefer
[email protected]
708.237.2065

Investor Relations:

Darrow Associates, Inc.
Peter Seltzberg, Managing Director, IR for Manitex International
[email protected]
516.419.9915