Benzinga | Dec 29, 2020 08:35AM EST

Manitex International, Inc. Announces New PM/Oil & Steel Orders With Initial Value Of Approximately $2M

BRIDGEVIEW, IL / ACCESSWIRE / December 29, 2020 / Manitex International, Inc. (NASDAQ:MNTX), a leading international provider of cranes and specialized industrial equipment, today announced orders of approximately $2.0 million, for new articulated work platforms from two different customers in Europe, including Enel, a multinational power company and a leading integrated player in the global power, gas, and renewables markets. Deliveries are slated to begin in the first half of 2021.

The orders are for various configurations of the Oil & Steel "O&S" Snake and Snake Plus platforms and includes the potential for additional follow-on orders as well as service and replacement part provisions. Oil & Steel, part of the PM Group, a fully-owned division of Manitex International. Oil & Steel has an installed base of over 1,000 machines in Italy, which has been achieved in the past ten years, consisting of end-customers in the utility, construction, maintenance and telecommunications sectors.

Steve Filipov, Chief Executive Officer of Manitex International, Inc., commented, "We are excited to announce these new orders, which are representative of the building momentum in our order book, particularly at PM as we close out 2020. The Snake product line is well-known for its strength, durability, and innovation, and Snake Plus is the only platform line featuring a double pantograph that allows a perfectly vertical up/down platform movement. It is an excellent product for electrical and utility work, and we look forward to supplying Enel and other customers, both retail and rental, with this versatile product line."

Images and specifications of Snake and other Oil & Steel equipment can be viewed at the following website: http://www.oilsteel.com/web/oil/prodotti