Benzinga | Dec 1, 2021 02:39PM EST

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.