Benzinga | Dec 1, 2021 08:05AM EST

Manitex Reports Secured ~$18M Order For Oil & Steel Aerial Platforms With Major Utility Co. In Italy

Manitex International, Inc. (NASDAQ:MNTX), a leading international provider of cranes and specialized industrial equipment, today announced that it secured a record order, worth approximately $18 million, for Oil & Steel aerial platforms with a major utility company in Italy. Oil & Steel, part of the PM Group, a wholly-owned subsidiary of Manitex International, has an installed base of over 1,000 machines in Italy with customers in the utility sector. Product delivery is slated to begin in the second half of 2022.

"Our team at Oil & Steel aerials has done an excellent job growing the business and diversifying our customer base into the utility industry," said Steve Filipov, Chief Executive Officer of Manitex International. "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. I'm proud of these wins and the overall success of our teams coming together to expand and broaden our presence on the continent."