Manitex International, Inc., a provider of engineered lifting solutions including boom truck cranes, rough terrain forklifts, container handling equipment and special mission oriented vehicles, announced it expects to report a consolidated order backlog of $83.7 million as of December 31, 2011. This is an increase of 33 percent from September 30, 2011, a 110 percent year over year increase, and represents an all-time high for the company.
A broad-based increase in demand for the company's specialized products, particularly domestically, continues to drive orders and position the company for growth throughout 2012. Accordingly, the company has begun to expand its output and is preparing its materials and resource needs within the supply chain for further expansion in 2012.
Paul Gibson, General Manager of the Company's subsidiary, Manitex Inc., commented, "Demand for Manitex equipment, particularly our higher tonnage cranes, is being driven by continued activity in the North American
Ron Clark, General Manager of Manitex Load King, commented, "Heightened activity in energy and associated construction projects, as well as in domestic and international mining, and rail activity has resulted in strong heavy duty trailer demand and a consequent significant backlog increase at Load King throughout 2011 which has particularly strengthened during the final quarter of the year. Load King has historically maintained a leading position in these specialized markets with its targeted applications and quality reputation. Our competitive lead-times have provided further impetus to customers to acquire the Load King product. We intend to maintain this momentum with an output increase heading into 2012."
As reported in recent announcements, Manitex Liftking has seen a healthy increase in military orders which has also contributed to the total record corporate backlog of $83.7 million at December 31, 2011.
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