Orders pick up for PM loader cranes
Manitex International has announced a pickup in order intake during the fourth quarter that should take the group order book/ backlog to $66.2 million, 17 percent lower than at this point last year, but 15 percent up on the third quarter.
The company says that the recovery is primarily due to higher sales of PM articulated loader cranes, particularly in North America, Western Europe and South America. It expects to confirm a 50 percent increase the backlog for PM, Mac PM and Tadano-PM articulated cranes, as well as Oil & Steel platforms and Valla industrial Cranes to $24.8 million. At the same time order intake for Manitex boom trucks has been softer.
Manitex president Steve Kiefer said: “While the backlog for our straight mast crane business decreased five percent due to lower levels of activity in certain parts of the construction markets, progress in executing our North American branding and distribution strategy for the MAC line provided significant year over year growth for our articulated crane business. We anticipate growth for the line in North America to continue as we move through 2020.”
Manitex International chief executive Steve Filipov added: “Key organisational and operational improvements we have made within the PM group, to enhance our focus, quality, productivity, and overall financial performance have resulted in more meaningful participation in large global growth markets that we have long identified as key to our company’s future success. The three brand strategy we have launched for our articulated cranes, namely PM, MAC, and Tadano-PM, is showing early signs of success and we are closing in on an annualised revenue rate of over $100 million for this group.”